Rating highlights JSW Steel’s strong financial discipline, operational strength, and improved access to global capital markets.

Moody’s Upgrades JSW Steel to Global Investment-Grade Baa3.

Moody’s Ratings has upgraded JSW Steel to Baa3 with a stable outlook, granting the company global investment-grade status. The agency also upgraded JSW Steel’s senior unsecured ratings and guaranteed senior unsecured revenue bonds to Baa3, while withdrawing its earlier Ba1 corporate family rating. The upgrade reflects the company’s scale as India’s largest steel producer, cost-efficient operations, and a strong asset base. JSW Steel said the rating will enhance its access to international capital markets on more competitive terms and reinforce investor confidence. The upgrade follows recent rating improvements from Fitch, CARE Ratings, and ICRA, highlighting the company’s consistent financial discipline and deleveraging efforts. As at the end of June, JSW Steel’s consolidated net debt declined to ₹46,157 crore from ₹53,870 crore in the previous quarter. Its net debt-to-equity ratio improved to 0.42, while the net debt-to-EBITDA ratio fell to 1.46, reflecting a stronger financial position.