Signs of improvement in Tata Steel's European business: Moody's

Nov 15 2013, 21:36 IST
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Last month, Tata Steel Europe had announced major restructuring proposals to boost its competitiveness that could lead to the loss of around 500 jobs in the UK (Reuters) Last month, Tata Steel Europe had announced major restructuring proposals to boost its competitiveness that could lead to the loss of around 500 jobs in the UK (Reuters)
SummaryThe European business of Tata Steel is showing signs that the recent weaknesses have been stemmed

significant capacity additions to its profitable Indian operations over the next 12-18 months.

"Further evidence of let up in the adverse conditions faced in Europe, while gradually bringing leverage closer to and below 5x could, over time, help position Tata Steel more firmly in its rating," it said.

Europe is Tata Steel's top market and production centre.

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