 "tata steel")
Global rating agency Standard and Poor’s has raised the credit rating of Tata Steel and its subsidiary ABJA Investment Co from ‘B+’ to ‘BB-‘ on deleveraging and strong operating momentum. Tata Steel Ltd's debt level is expected to decline materially in the next two years due to a strong cash flow and the company's stated intention to reduce debt.
In the base-case scenario, Tata Steel's adjusted debt could decline by about 30 per cent by March 2023 from the March 2020 level of about Rs 1 trillion, leading to steady improvement in credit metrics. About half of this decline is expected
