Tag: Tata Steel raised to investment grade

Moody’s Investors Service upgraded Tata Steel Ltd’s long-term rating with a stable outlook on expectation of an improvement in profits and its debt reduction efforts.The firm’s long-term rating was upgraded to Baa3 from Ba1, the ratings agency said Monday. “The upgrade reflects our expectation of the continued strength in Tata Steel’s credit profile due to the company’s solid market position in India,” it said.India’s steel demand is expected to climb 7% a year until 2030 on the back of large infrastructure investments and consumption from the auto sector,...