Outlooks On Tata Steel And Its U.K. Subsidiary Revised To Stable On Better Liquidity And Improved Operating Performance
Standard & Poors, October 2010
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
The refinancing of the bank loan at TSUK has improved the company's liquidity position, as well as that of its parent Tata Steel. Tata Steel's and TSUK's operating performance has significantly improved over the past nine to 12 months. We revised the outlooks on both companies to stable from negative. At the same time, we affirmed the 'BB-' long-term corporate credit rating on Tata Steel and the 'BB-' issue rating on the senior unsecured notes. We also affirmed the 'B+' long-term corporate credit rating and 'B' short-term rating on TSUK. MUMBAI (Standard & Poor's) Oct. 7, 2010--Standard & Poor's Ratings Services said that it had revised the outlooks on India-based Tata Steel Ltd. and the company's subsidiary Tata Steel U.K....
Companies mentioned in this report are: Tata Steel Ltd.
Action: Affirmed
Action: Outlook: Stable
Tata Steel Ltd.
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