Moody’s Investors Service revised Tata Steel Ltd.’s outlook to stable and upgraded its long-term rating on expectation of an improvement in profits and its debt reduction efforts.

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The steelmaker’s long-term rating was upgraded to Baa3 from Ba1, the ratings agency said in a statement 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.

First Published:Sept 25, 2023 5:27 PM IST