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Jindal Stainless - CARE upgrades JSL's credit facilities rating to "CARE BBB" with stable outlook

CARE Ratings has upgraded the rating of the credit facilities of Jindal Stainless Limited to 'CARE B

CARE Ratings has upgraded the rating of the credit facilities of Jindal Stainless Limited to 'CARE BBB' with a stable outlook. The previously assigned rating by CARE was that of 'CARE BBB-'. Given JSL's strong financial and operational profile, the improved rating reflects a resilient business strategy despite interruptions caused due to pandemic over past few months.

CARE Ratings factors in the steady growth in the Company's sales and stable operating performance over a period of FY18 to FY20. CARE Ratings has upheld the Company's leadership position in the domestic stainless steel market. This is a testimony to the increased financial flexibility of JSL after its CDR exit and its consistent efforts for debt reduction.

Full read: Jindal Stainless rating upgrade by CARE.pdf (929.29 kb)

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