NEW DELHI: S&P Global Ratings Tuesday said it has revised its outlook on Tata Steel to positive from stable. The diminishing prospect of Bhushan Power and Steel Ltd's (BPSL) acquisition and the sustained high steel prices in India are key factors for the outlook revision on Tata Steel, S&P said in a statement. The US-based rating agency also noted that Tata Steel will continue to support its 100% subsidiary Tata Steel UK Holdings (TSUKH) when needed. "In line with the rating action on Tata Steel and in view of stable operating performance in TSUKH, we are revising our outlook on TSUKH (also) to positive," it added. Besides, the agency said it expects Tata Steel to successfully divest its European business housed under TSUKH in the next two to three months.

Source: Mint April 02, 2019 15:00 UTC