Country’s largest steel maker Tata Steel’s plan to restructure its UK businesses is credit positive as it will reduce some of the negative pressure on its operating performance, Moody’s Investors Service said in its report today.
However, pending finalisation of the restructuring plan and the uncertainty around the extent of improvement in the credit profiles of Tata Steel and Tata Steel UK Holdings, there is no immediate impact on the ratings on Tata Steel and UK Holdings company, it said.
Early this week, Tata Steel announced it would explore all options in restructuring its 100% owned subsidiary, Tata Steel Europe, including the potential divestment of its step-down operating subsidiary, Tata …
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