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Fitch Revises Outlook on JSW Steel to Negative

Steel News - Published on Thu, 27 Feb 2020

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JSW Steel on Wednesday said Fitch has revised the outlook on the company to negative from stable. JSW said “FITCH has affirmed Long-Term Issuer Default Rating to BB. The Outlook on the IDR has been revised to Negative from Stable. The agency has also affirmed JSW's senior unsecured rating and the rating on its senior unsecured notes at BB.”

Fitch said "The revision of the Outlook reflects the risks in JSWS's ability to deleverage and generate positive free cash flow because of the various challenges in the Indian market."

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Posted By : Rabi Wangkhem on Thu, 27 Feb 2020
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