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India Ratings affirms stable outlook to Tata Steel

Steel News - Published on Mon, 24 Sep 2018

Image Source: btvi.in
Money control reported that India Ratings and Research has affirmed Tata Steel's long-term issuer rating at 'IND AA' with stable outlook. Instruments with 'IND AA' rating are considered to have high degree of safety regarding timely servicing of financial obligations and such instruments carry very low credit risk. It said that "India Ratings and Research has affirmed Tata Steel Ltd's long-term issuer rating at IND AA, while resolving the Rating Watch Evolving (RWE). The Outlook is Stable. Ind-Ra had placed the ratings on RWE on April 11, 2016," it said in a statement.

The RWE resolution follows clarity on the overall impact on TSL's credit profile post-acquisition of Bhushan Steel Ltd (BSL) and carving out of its European operations, it said.

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Posted By : Nanda Koijam on Mon, 24 Sep 2018
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