Jindal Steel Limited announced on Wednesday that CARE Ratings Limited has raised the Company’s long-term credit rating to CARE AA+ Stable from CARE AA; Stable, confirming the Company’s strong financial profile, prudent capital management, and consistent business performance.

The rating agency has also reaffirmed the Company’s CARE A1+ rating for its short-term bank facilities. Additionally, CARE Ratings has upgraded the rating for Jindal Steel’s proposed Non-Convertible Debenture (NCD) issue from CARE AA; Stable to CARE AA+; Stable.

In a further boost to the Group’s credit profile, CARE Ratings has upgraded the long-term bank facilities rating of Jindal Steel Odisha Limited, a wholly owned subsidiary of Jindal Steel, from CARE AA; Stable to CARE AA+; Stable, while reaffirming its CARE A1+ rating for short-term bank facilities.

The rating upgrade reflects the Company’s robust operational performance, strong balance sheet, disciplined financial management, and ongoing commitment to sustainable, long-term value creation. This improved rating is anticipated to further enhance Jindal Steel’s financial flexibility and its ability to access capital efficiently to support its strategic growth initiatives.

The detailed rating rationale provided by CARE Ratings can be found in the Company’s regulatory disclosures and is also available on the Company’s website.