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Fitch lowers Tata Steel outlook to 'negative'
Business Standard
|July 13, 2024
Fitch Ratings on Friday revised its outlook on domestic steel major Tata Steel to negative on account of uncertainty surrounding the turnaround of the company's operations in the UK.
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However, the expected robust growth in Tata Steel's India operations and likely earnings before interest, taxes, depreciation, and amortization (Ebitda) profits at Dutch operations in FY25, may offset any losses at UK operations, Fitch Ratings said in a report.
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