India’s Crisil Ratings has revised its outlook for Jindal Stainless Limited’s (JSL) long-term bank facilities and debt program to “AA” with a positive outlook from ‘stable’, a company statement said on Friday, April 7.
Crisil said that the revised outlook was in view of the company’s improved business risk profile, an expected uptick in scale of operation, and capacity expansion and acquisitions.
Some of the parameters that Crisil Ratings took note of in order for the elevated outlook include completion of the merger process with Jindal Stainless Hisar Limited, strong liquidity, strategic acquisitions, and ongoing capacity expansion to 2.9 million mt year, the company statement said.