Tata Steel Ltd.

Global rating agency Fitch has assigned ‘BB+’ with a stable outlook rating to $1.5 billion 5.95 per cent senior unsecured guaranteed notes due 2024 issued by Tata Steel. As part of its strategy to mop up capital internationally, Tata Steel had raised $1.5 billion in a dual tranche bond sale on July 25, making it the largest such deal by the Tata group firm.

The notes were issued by Singapore-based ABJA Investments Co Pte, a wholly owned subsidiary of Tata Steel, and unconditionally and irrevocably guaranteed by India-based Tata Steel.

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.