- Language: English
- 64 Pages
- Published: September 2011
- Region: Great Britain, United Kingdom
Tata Steel UK Holdings Ltd.
- Published: October 2010
- Region: United Kingdom, Great Britain
- Standard & Poors
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: Full Analysis
Weak operating performance due to lack of raw material security Weak, though improved, demand environment High level of debt Cyclical steel industry with volatile steel and raw material prices Parental support Good market position in Europe Improved liquidity position The rating on Tata Steel UK Holdings Ltd. (TSUKH) reflects the company's weak operating performance, which combined with its high debt has resulted in a highly leveraged financial profile. Nevertheless, the company's liquidity position has improved and is adequate. The rating also incorporates our expectation of support from parent, Tata Steel Ltd. (BB-/Stable/--), because we believe TSUKH's operations are strategically important to the parent (see article titled "Tata Steel Ltd.," published Oct. 28, 2010). TSUKH has a strong market position in...
Companies mentioned in this report are: Tata Steel UK Holdings Ltd.,Tata Motors Ltd.,Tata Power Co. Ltd.,Tata Steel Ltd.,Tata Steel Nederland B.V.,Tata Consultancy Services Ltd.,Tata Steel Netherlands Holdings B.V.
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Tata Steel UK Holdings Ltd.,Tata Motors Ltd.,Tata Power Co. Ltd.,Tata Steel Ltd.,Tata Steel Nederland B.V.,Tata Consultancy Services Ltd.,Tata Steel Netherlands Holdings B.V.