13.02.2014 12:23:00
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Tata Steel Ltd. -- Moody's: Tata Steel's 3Q results show operations stabilised and on-track to recovery
Singapore, February 13, 2014 -- Moody's Investors Service says that Tata Steel's nine month results ended 31 December 2013 show that the group performance has firmed up on the back of robust growth in its Asia ex-India operations and sustained momentum in Europe, where the subsidiary has now delivered four successive quarters of positive EBITDA. While this has no immediate impact on the Ba3 rating of Tata Steel (TSL) and the B3 rating of Tata Steel UK Holdings (TSUKH), both with negative outlooks, it bodes well, given that the current March quarter, is normally a strong quarter for the company.