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Fitch affirms rating of JSW Steel Ltd

Posted On: 2020-02-26 11:33:21


FITCH has affirmed 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".

Shares of JSW STEEL LTD. was last trading in BSE at Rs.262.7 as compared to the previous close of Rs. 258.8. The total number of shares traded during the day was 465140 in over 4982 trades.

The stock hit an intraday high of Rs. 266.7 and intraday low of 258.5. The net turnover during the day was Rs. 122233516.


Source: Equity Bulls

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