Fitch cuts outlook for Tata Steel, union optimistic on jobs in UK

Fitch cut Tata Steel's outlook to negative citing UK operations uncertainty. A delayed 500 million pound grant may cause 2,800 job losses. Tata Steel's net debt is Rs 77,550 crore amid UK losses of 364 million pounds and business-restructuring costs. Unite and Business Secretary Jonathan Reynolds show optimism about new Labour government’s supportive investments.