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Moody's Completes Periodic Review of Ratings of Tata Steel Ltd

Steel News - Published on Tue, 21 Jan 2020

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Moody's Investors Service has completed a periodic review of the ratings of Tata Steel Ltd and other ratings that are associated with the same analytical unit. Key rating considerations are summarized below.

Tata Steel Ltd's Ba2 corporate family rating (CFR) reflects the company's: (1) large, diversified and growing business; (2) globally cost-competitive operations in the fast-growing Indian market where it commands a strong market position; and (3) a sustained track record of improving credit metrics.

The rating incorporates a one-notch uplift for our expectation of timely, ongoing and extraordinary support from its parent Tata Sons Ltd.

Counterbalancing these strengths, the rating also reflects the company's exposure to the cyclical steel industry and challenges associated with the planned 5 million tons per annum (mtpa) capacity expansion at Kalinganagar."

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Posted By : Rabi Wangkhem on Tue, 21 Jan 2020
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