ICRA reaffirms A1+ rating to JSPL's Rs 275cr CP/STD prog

New Delhi, Sep 29 (UNI) Credit rating agency ICRA today reaffirmed the highest credit quality rating, A1+, to Rs 275 crore Commercial Paper (CP)/Short-term Debt (STD) Programme of Jindal Steel and Power Ltd (JSPL).

The rating takes into account the improvement in JSPL's business risk profile driven by a change in its product mix, competitive cost structure emanating from the companys integrated operations which enables it to better withstand downturns in the steel industry.

In the long-term, JSPL has plans to set-up a greenfield integrated steel plant in Orissa and is in the process of finalising its investment plans for the same.

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