Global rating agency, Fitch has reaffirmed ‘BB+’ rating with ‘stable’ credit outlook to Tata Steel. The company has received the said rating as its highly profitable India operations is improving company’s financial position.
The company’s financial profile has been improving, and reflects its expanding Indian operations, which are highly profitable along with its stable European performance. BB+ refers to non-investment rating.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
