Moody's upgrades JSW Steel to Baa3 global investment grade
Business
JSW Steel, India's biggest steelmaker, just got bumped up to global investment grade by Moody's.
The rating is now Baa3 with a stable outlook, which basically means the company is seen as more reliable worldwide.
This upgrade also covers some of its key bonds.
JSW Steel net debt now ₹46,157cr
The company has slashed its net debt from ₹76,563 crore in March 2025 to ₹46,157 crore by June, thanks to better operations and selling off some assets.
Other rating agencies like Fitch, CARE, and ICRA had also upgraded the company earlier.
CEO Jayant Acharya said this will open new doors for funding globally, while CFO Swayam Saurabh added it should make borrowing cheaper, giving JSW more room to grow.