Credit rating agency -- India Ratings and Research (Ind-Ra) has upgraded Tata Steel’s long-term issuer rating to ‘AA+’ from ‘AA’. AA-rated instruments are considered to have a high degree of safety regarding timely servicing of financial obligations.
The upgrade reflects agency’s expectation that despite likely aggregate capital expenditure of about Rs 22,000 crore, Tata Steel's consolidated adjusted net leverage would improve as significant cash flow generation would lead to reduction in its consolidated gross debt.
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.
Company Name | CMP |
---|---|
JSW Steel | 880.60 |
Tata Steel | 164.95 |
SAIL | 164.70 |
Jindal Stainless | 710.60 |
APL Apollo Tubes | 1580.00 |
View more.. |