Moody’s Ratings upgraded its outlook on domestic steel major JSW Steel and its US-based arm Periama Holdings LLC to positive from stable.
The change in outlook reflects JSW Steel’s meaningful expansion in operating scale, reinforcing its position as India’s largest steel producer, Hui Ting Sim, a Moody’s Ratings Assistant Vice President and Analyst said in a report on Wednesday.
Hui Ting Sim said the ramp-up of operations at recently completed projects will drive higher earnings and support sustained improvement in the company’s credit metrics.
The rating action also reflects our expectation that JSW Steel will implement its growth plans with financial discipline, and it will proactively manage the refinancing of significant debt obligations, the analyst said.
“Moody’s Ratings (Moody’s) has changed the outlook on JSW Steel Limited (JSW Steel) and Periama Holdings LLC’s (Periama Holdings) ratings to positive from stable,” the report said.
On the rationale behind the move, Moody’s s
