Fitch revises outlook to negative from stable on JSW Steel's IDR

The Outlook on the IDR has been revised to Negative from Stable.

Feb 26, 2020 06:02 IST India Infoline News Service

JSW Steel
JSW Steel informed the exchanges today that FITCH Ratings has affirmed company's Long-Term Issuer Default (IDR) Rating to "BB". The Outlook on the IDR has been revised to Negative from Stable. The agency has also affirmed JSW's senior unsecured rating and the rating on its senior unsecured notes at "BB".

"The revision of the outlook reflects the risks in JSWS's ability to deleverage and generate positive free cash flow (FCF) because of the various challenges in the Indian market".

Stock view:
JSW Steel Ltd is currently trading at Rs260.85 down by Rs1.85 or 0.7% from its previous closing of Rs262.70 on the BSE.

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