INSUBCONTINENT EXCLUSIVE:
Kolkata: Fitch Ratings has affirmed Tata Steel (TSL) long-term issuer default rating (IDR) at 'BB' with 's table' outlook
The agency said all ratings have been removed from Rating Watch Evolving (RWE), on which they were placed on April 1, 2016
market position as the largest domestic steelmaker by sales volume
A moderation in domestic steel prices in tune with decline in global prices since October 2018 and rising risks to global steel demand in
wake of trade disputes, could rein in prices and margins in FY20, though TSL will retain advantage of captive raw materials
50 per cent in FY18 through acquisitions like Tata Steel BSLin April 2018 and Usha Martin in April 2019
Another driver was a pick-up in TSL's capex in FY19 after a slide in FY15-FY18, with the start of a Rs 23,500 crore project to raise
capacity at Kalinganagar by 5 MT per annum, including a 2.2 mtpa cold-rolling mill to produce high-end steel for automobiles.