 "tata steel")
Moody's has revised the outlook on Tata Steel Ltd from “negative” to “stable” on the company’s solid recovery in operations in the third quarter of current fiscal year (Fy21).
The global rating agency affirmed the company's Ba2 corporate family rating (CFR). The company will sustain the improvement over 12-18 months, enabling its consolidated financial metrics to recover to levels more appropriate for its Ba2 CFR, it said.
"The rating action also reflects the company's proactive financial management amid the [Covid-19] pandemic. It has publicly stated target of reducing gross debt by at least $1 billion each year and prioritising deleveraging
