Rating Agencies Improve JSW Infrastructure’s Credit Rating

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JSW Infrastructure, India’s leading private port operator and part of the $ 13 billion JSW Group, has received an improvement in its credit ratings from India’s leading credit rating agencies, ICRA, CARE and India Ratings.

While ICRA has assigned a long-term rating of [ICRA] AA- (Stable) to JSW Infrastructure bank facilities of Rs 250 crore, CARE Ratings revised its ratings on JSW Infrastructure long term bank facilities subsidiaries. CARE has revised the ratings of Port JSW Jaigarh and Port JSW Dharamtar from CARE A + Stable to CARE AA- Stable. CARE also revised its long-term debt ratings for South West Port, JSW Paradip Port Terminals from CARE A + to CARE AA- (CE). It reaffirmed its CARE A1 + ratings on the short term banking facilities of JSW Infrastructure and its subsidiaries. Long-term debt facilities currently rated by CARE Ratings stand at Rs 3,707 crore.

JSW Infrastructure has a strong presence in Maharashtra, Goa, Karnataka, Tamil Nadu and Odisha, the main hinterlands of origin of freight. These states are of strategic value to the JSW Group as well as to third party freight customers.

Earlier, India Ratings assigned IND AA-Outlook Stable to JSW Jaigarh Port’s credit facilities for an amount of Rs 340 crore.

The Company aims to achieve a balanced mix of bulk, container and liquid cargo. This capacity expansion will be achieved through the organic acquisition and acquisition of assets in these locations that are strategically aligned with the long-term business objectives of the Company. The planned ramp-up will allow JSW Infrastructure to meet its target cargo handling capacity of 200 MTPA and over 60% utilization. It is currently in the process of commissioning its new terminal at the port of Paradip.

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