16
Jul
11:29
Fitch downgrades Tata Steel outlook to negative
Fitch Ratings has revised its outlook for Tata Steel (TSL)’s issuer default rating (IDR) from stable to negative. The ratings cut is primarily due to Tata’s uncertainty around its UK operations and risks to its Ebitda leverage forecasts, Kallanish notes. Fitch affirmed TSL’s IDR ratings at ‘BBB-’.
“We believe that there are uncertainties in TSL's plan to replace its blast furnaces at Port Talbot, UK with more cost-efficient …
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Anonymous
Very good overview of the weekly steel market.
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