JKB Financial Services Ltd.

As on : 07-Oct-2026

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07-Oct-2026 17:39

Steel Authority of India's credit ratings reaffirmed by CAREEdge and CARE Ratings Limited

Steel Authority of India Ltd announced reaffirmations and revisions to its credit ratings from multiple agencies, including CAREEdge and CARE Ratings Limited. CAREEdge reaffirmed the rating for Long Term Bank Facilities at CARE AA with a Positive outlook, previously Stable, and reaffirmed the Short Term Bank Facilities at CARE A1+. Additionally, CAREEdge withdrew the ratings for Bonds and Commercial Paper, both previously at CARE A1+, and Secured Redeemable Non-Convertible Bonds (ISIN: INE114A07638) based on a no-dues certificate; CARE Ratings reaffirmed ratings for Bank facilities and Instruments, noting strength from SAIL's 'Maharatna' status and government support, while also indicating a total debt decline from Rs 41,740 crore to Rs 35,788 crore, with peak debt expected between Rs 80,000 crore and Rs 90,000 crore in FY30-FY31, alongside reaffirming Commercial Paper at CARE A1+ and Fund-based - LT- Term Loan at CAREAA; Positive. The ratings also reflect adequate liquidity supported by healthy gross cash accruals, sufficient cash accruals to service term debt, a 69% average utilization of working capital limits, and a strong ESG profile, alongside certifications including ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018, and the Golden Peacock Environment Management Award 2026.

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