Moody’s gives Ba2 rating to JSW Steel’s proposed bonds

The bond rating is the same as JSW’s Ba2 corporate family rating and the Ba2 rating on the company’s existing senior unsecured notes.

New Delhi: Moody’s Investors Service on Monday assigned a Ba2 rating to JSW Steel’s proposed senior unsecured bonds with stable outlook.

Ba2 rating means that this instrument has substantial credit risk.

“Moody’s Investors Service has assigned a Ba2 rating to JSW Steel’s (JSW) proposed senior unsecured bonds. The rating outlook is stable,” Moody’s said in a statement.

“The bond rating is the same as JSW’s Ba2 corporate family rating (CFR) and the Ba2 rating on the company’s existing senior unsecured notes. The proposed bonds rank pari-passu to the company’s existing senior unsecured notes,” the statement said.

JSW’s Ba2 corporate family rating reflects the company’s large scale, strong market shares in west and south India, and competitive conversion costs, with the last factor supported by the company’s wide range of furnace technologies and the coastal locations of its operations.