Fitch assigns highest rating to Tata Steel

The proceeds of the long-term debt is for the prepayment of some of the debts of Tata Steel UK Ltd, Fitch said in a release.     

The agency has also assigned bank loan ratings of 'AAA (ind)' to Tata Steel's fund-based cash credit limit of Rs 10.6 billion and non fund-based limits of Rs 23.40 billion.