Moody's Ratings has upgraded its outlook on India’s JSW Steel Limited and its US-based arm Periama Holdings LLC to positive from stable, according to a statement on Friday, October 3.
“The change in outlook reflects JSW Steel Limited's meaningful expansion in operating scale, reinforcing its position as India's largest steel producer,” the rating agency said.
The ramp-up of operations at recently completed projects will drive higher earnings and support sustained improvement in the company's credit metrics, it said.
The rating action also reflects our expectation that JSW Steel Limited will implement its growth plans with financial discipline, and it will proactively manage the refinancing of significant debt obligations, Moody’s added.
