Fitch rates JSW Steel notes BB-

Fitch Ratings said it assigned a BB- rating to the proposed dollar senior unsecured notes to be issued by JSW Steel Ltd.'s U.S.-based subsidiary Periama Holdings, LLC.

The proposed notes are guaranteed by JSW and are rated at the same level as its long-term issuer default rating. The guaranteed notes will rank pari passu with JSW's senior unsecured obligations.

The proceeds will be used for repayment of loans to JSW, including interest and for general corporate purposes.

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