Credit rating agency, India Ratings and Research has assigned a long term issuer rating of ‘BBB’ with a stable outlook to Jindal Stainless (JSL). The rating push demonstrates improvement in creditworthiness of the company and is a reflection of higher operating performance, improved Earnings before interest, taxes, depreciation, and amortization (EBIDTA), and significant debt reduction achieved through implementation of an efficient Asset Monetisation Plan (AMP).
Jindal Stainless is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.