JSW Steel has received Moody’s Ratings Baa3 long-term issuer rating with a stable outlook, placing the company at global investment grade.Moody’s also upgraded JSW Steel’s senior unsecured ratings and the guaranteed senior unsecured revenue bonds issued by Jefferson County Port Authority to Baa3 from Ba1, and withdrew the company’s earlier Ba1 corporate family rating.Moody’s cited sustained improvement in JSW Steel’s credit profile, anchored in its position as India’s largest steel producer with cost-competitive, multi-location operations. The agency also pointed to material debt reduction from the sustained operating & financial performance and recent asset divestment.The rating action also reflects the meaningful expansion in JSW Steel’s operating scale over the past few years, it said. The agency expects the ramp-up of recently completed projects at Vijayanagar, together with commissioning of Dolvi phase-III to drive higher earnings next year and support sustained improvement in credit metrics.The company’s financial profile strengthened materially, with net debt reduced from ₹76,563 crore as of March, 2025 to ₹46,157 crore as of June 30.Earlier, Fitch upgraded the company to ‘BB+’ from ‘BB’ with a positive outlook (July 6); CARE Ratings and ICRA have also upgraded the company’s ratings.Jayant Acharya, Joint Managing Director & CEO, JSW Steel said: the expansion at Vijayanagar and the upcoming capacity at Dolvi, together with our partnerships with JFE and POSCO, position the company to serve demand, while continuing to move up the value chain. Global investment grade strengthens access to international capital markets on more competitive terms.It also affirms the confidence that customers, partners and investors worldwide place in JSW Steel.”Swayam Saurabh, Chief Financial Officer, JSW Steel, said a stronger balance sheet and a meaningfully optimised cost of borrowing are the tangible outcomes and together they give the company real firepower to fund its growth programme on better terms and with a greater confidence.Published on July 31, 2026