JSW Steel Limited — Credit Ratings, 30-07-2026: Credit Rating- Revision

ICRA Limited has upgraded JSW Steel's long-term debt instruments and NCDs to [ICRA]AA+ (Stable Outlook) from [ICRA]AA. Short-term facilities and Commercial Paper are reaffirmed at [ICRA]A1+. This upgrade reflects significant deleveraging from the slump sale of Bhushan Power and Steel assets, which brought in ~₹37,350 Cr, substantially reducing consolidated debt and strengthening the financial profile.