The world's leading credit rating company Standard & Poor's on Thursday, announced that India Tata Steel UK subsidiary, Tata Steel UK holding company credit rating outlook lowered from the previous "stable," citing "negative". At the same time, Standard & Poor's also foreign to reiterate that to maintain the same level of Tata Steel long-term corporate credit rating of "BB", and without the issue rating of senior unsecured notes BB "of adjustment.
Standard & Poor's analysts said in a statement released said: "We have to adjust the credit rating of Tata Steel outlook reflects the weak performance of the company's European subsidiaries." The statement added: "We will also Tata steel UK holding company (TSUKH) ? 3.54 billion bank loan recovery rating from 1 down to 2, the issue rating lowered to BB-from BB.
S & P said that Tata Steel's consolidated operating performance is weaker than expected, you might consider to cut its credit rating. Standard & Poor's, said: "With the further slowdown of the European business development, which is likely to lead to Tata Steel's results fell short of expectations. Double-dip recession of the European economy and worsening prospects for the development of the steel industry will be the performance of Tata Steel have a negative impact, and thus hurt its financial indicators. "standard & Poor's, said:" from the current situation, in 2012, the European steel industry will continue to face weak demand and excess steel production capacity. Therefore, it is expected that the tower tower steel British holding company in the fiscal year ended March 31, 2013, the profit margin may just only 2.3%.
Other News:
Trading week of the iron ore spot trading platform is now zero
Standard & Poor's: Tata Steel credit rating lowered
Chinese warships rare appearance Mediterranean waters lead to a lot of speculati
Shougang restructuring imminent
Ore market transactions, bad global mining competition
Stainless steel pickling passivation operation of the basic precautions
No longer carry the death loss and steel enterprises will intensify our efforts
Pohang: three quarters of China Steel City will be stabilized stabilized
