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Fitch upgrades Illinois credit outlook to positive Capitolnewsillinois com
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Fitch upgrades Illinois credit outlook to positive
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Fitch revises outlook on JSW Steel to positive, affirms at BB-minus ANI | Updated: May 20, 2021 12:53 IST
Singapore, May 20 (ANI): Fitch Ratings has revised the outlook on JSW Steel (JSWS) issuer default rating to positive from negative while affirming the IDR at BB-minus.
The agency has also affirmed rating on outstanding bonds of JSWS and its subsidiary Periama Holdings LLC which are guaranteed by JSWS at BB-minus and assigned a recovery rating of RR4.
The outlook revision is based on an estimate that JSWS s leverage in the financial year ended March 2021 (FY21), excluding the impact of the Bhushan Power and Steel Ltd (BPSL) acquisition, was materially lower year-on-year and compared with previous expectations.