TATA STEEL’S UK UNIT DOWNGRADED BY MOODYS

Tata Steel UK Holdings Ltd – The UK-based subsidiary of Tata Steel (India) saw its credit rating suffer a downgrade by Moody’s by a single notch to B3. The reason for the downgrade was the overall glum outlook of the operations in the European steel industry. The outlook on the rating was unchanged as it remained at “negative”.

The agency also stated that the outlook on the rating would not reverse unless the outlook of the industry and the fundamentals affecting it undergo significant improvement. (Moneycontrol)



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