S&P revises Tata Steel UK's outlook to stable, 'B+' Rating Affirmed

Standard & Poor’s has revised its outlook on Tata Steel UK Holdings (TSUKH) from “positive” to “stable” in line with parent Tata Steel.

The outlook revision reflects view that Tata Steel will deleverage slower than earlier expectations as the outlook for steel prices weakened materially over the last three quarters.

“We expect a weaker medium-term outlook on steel prices to diminish Tata Steel's EBITDA and consequently its pace of deleveraging, which will weigh on the company's financial strength," S&P said in a statement.

The rating agency affirmed 'B+' long-term and 'B' short-term issuer credit ratings on the UK-based company.

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