Tata Steel gains as Moody’s upgrades CFR rating

-
Tata steel
Shares of Tata Steel gained 1.2 percent in the early trade on Thursday after Moody’s Investors Service has upgraded its rating by one notch.
Moody’s Investors Service has upgraded Tata Steel's long term corporate family rating (CFR) by one notch to Ba2 from Ba3.
“The upgrade of Tata Steel’s CFR reflects the sustained improvement in the company’s credit profile, stemming principally from strong operating efficiencies and vertical integration, as well as stable demand and price conditions in its major market,” says Kaustubh Chaubal, a Moody’s Vice President and Senior Credit Officer.
Meanwhile, Moody’s has kept the company’s outlook as stable.
The stable outlook reflects Moody’s expectation that Tata Steel’s strong operating performance will translate into a sustained improvement in credit metrics.

Comments

  1. rohan nayak1 April 2022 at 05:33

    its give me lot of benefecial information about trading. nice post
    HDFC bank share price

    ReplyDelete

Post a Comment

Popular posts from this blog

16 Nifty companies beat the Street

-
Image
16 Nifty companies beat the Street in Q3; should you buy, sell or hold India Inc's December quarter results witnessed headwinds given the tight   situation, currency volatility, slowdown in government spending ahead of elections and global trade issues. Out of the 50 Nifty companies, 16 (32%) reported numbers above expectations, 15 companies' (30%) results were in-line with expectations, 10 (20%) reported mixed set of numbers and 9 companies (18%) were below estimates, Centrum Wealth Research said in a report. The earnings growth of corporates during Q3FY19 faced headwinds given macro challenges (such as weak rupee, elevated crude oil prices and higher bond yields) and micro challenges (given the delay in order finalisation owing to upcoming elections, weak consumer sentiment and tight liquidity). Given the current market scenario, the earnings reported by companies suggest a gradual recovery setting in, said the report. But, sustenance of the same...
Read more