Moody's On Steel Sector

Move reflects deterioration in credit profile due to challenges brought by the pandemic

Cites rising input costs, inability to pass on higher costs for revised outlook; India's steel demand to remain strongest in region, but auto and manufacturing sector demand could drag

The stable outlook reflects Moody's expectation that Tata Steel's strong operating performance will translate into a sustained improvement in credit metrics

Moody's said that Tata Steel earnings will increase due to newly-added capacity, and the same will remain steady for JSW Steel