Reportedly, Fitch Rating has affirmed the long-term Foreign Currency Issuer Default Rating of Tata Steel Limited as "BB+." Tata Steel UK Holding is also affirmed "B+" that reflects the negative outlook for the Indian based steel maker. Tata Steel has suffered profitability pressure from its Indian and European operation since weak performance of FY13 with EBITDA margin has falling to 8%. Meanwhile, the stable growth in volumes is expected to lift EBITDA, however, on the other hand any significant fall in steel prices may impact the company's financial profile negatively. In the background, its recorded revenue was amounted to INR1000b billion with EBITDA at INR79.5 billion.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=63990&division=A6
