JSW Steel, an integrated steel manufacturer,  on Wednesday said ratings agency CARE has revised its rating for the company’s long-term bank facilities and non-convertible debentures (NCDs) to CARE AA- from CARE AA. The outlook has been revised to negative from stable. The agency retained the rating for short-term bank facilities and commercial paper to CARE A1+.

Shares of the company declined Rs 1.2, or 0.73%, to settle  at  Rs 162.65.  The total volume of shares traded  was  778,821 at  the BSE (Thursday).