JSW Energy on Monday said that India Ratings has upgraded its long-term credit rating to IND AA (stable) from IND AA- (stable).
“Long-term credit rating of JSW Energy Ltd has been upgraded to IND AA (stable) from IND AA- (stable) by India Ratings Pvt Ltd, the wholly-owned Indian subsidiary of Fitch Ratings,” the company said in a statement.
An upgrade of a company within the AA family of ratings is a clear recognition of the robust business and risk management practices of the company and its strong financial profile.
JSW Energy has one of the strongest balance sheets in the sector with a net debt-equity of 0.37x and net debt-Ebitda of 1.74x, it stated.
