Tata Steel can withstand 20% drop in EBITDA over next 2 years: S&P Global

High growth investment to limit Tata Steel's debt reduction plan

"The ratings on most Asian steelmakers can withstand a 20 per cent decline in earnings before interest, tax, depreciation and amortisation (EBITDA) from our expectations over the next two to three years," S&P Global Ratings said on Tuesday.

In its report on Asian Steelmakers, the agency said the region’s steel players have good credit standing in the capital market along with strong banking relationships. “These strengths can help these companies meet any large refinancing need in a weaker operating environment,” it said.

Tata Steel, Posco, Nippon Steel and Hyundai Steel among others have been rated by S&P Global as adequate under liquidity