Comments
Steel major JSW Steel on Wednesday said Fitch has revised the outlook on the company to ‘negative’ from ‘stable’. “Fitch has affirmed Long-Term Issuer Default (IDR) Rating to ‘BB’ The outlook on the IDR has been revised to negative from stable,” the steel major said in a filing to the BSE.
The revision of the outlook reflects the risks in the company’s ability to deleverage and generate positive free cash flow because of the various challenges in the Indian market, JSW Steel said. The agency has also affirmed JSW’s senior unsecured rating and the rating on its senior unsecured notes at ‘BB’, the filing said.
JSW Steel stock was trading at ₹261.15, down 0.59 per cent, on the BSE.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.