For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Ind-Ra affirms negative outlook on Tata Steel

By Religare
|
Ind-Ra affirms negative outlook on Tata Steel
Country's leading rating agency India Ratings & Research (Ind-Ra), on Tuesday maintained a negative outlook on Tata Steel Limited (TSL) while affirming the long-term issuer rating at 'IND AA'. "The negative outlook reflects TSL's higher-than-expected net financial leverage in FY13 (year end March) together with uncertainty regarding deleveraging in the near term," Ind-Ra said in a statement.
 

The affirmation reflects TSL's low-cost Indian operations and strong liquidity, it added. Besides, the rating agency expects the profitability of the company to remain under pressure in the near term with slower volume growth in Europe and lower growth trajectory in the Indian markets.

TSL's ratings continue to factor in one-notch benefit for its strong operating and strategic linkages with the Tata Group.

Dion Global Solutions Ltd.

Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more