Fitch Ratings revises outlook on Tata Steel to negative amid uncertainty surrounding UK biz

Fitch revised Tata Steel’s outlook to negative due to UK uncertainties. Strong India growth and Dutch profits led to affirming the 'BBB-' rating and USD 1 billion notes. Tata Steel is transitioning to electric arc furnaces at Port Talbot under a September 2023 joint investment plan worth 1.25 billion pounds, with 500 million pounds from the UK government.