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Prospect News home > News index > List of issuers T > Headlines for Tata Steel U.K. Ltd. > News item
Published on 6/10/2009 in the Prospect News Bank Loan Daily, Prospect News Convertibles Daily, Prospect News Emerging Markets Daily and Prospect News High Yield Daily.

S&P still may cut Tata Steel debt

Standard & Poor's said it kept the BB rating on £3.67 billion senior secured debt of Tata Steel U.K. Ltd. (B+/negative/B) on CreditWatch, where it was placed with negative implications on Feb. 5.

The review will consider a recent agreement with banks to amend the covenants on the company's senior secured debt, the significant deterioration in the operating environment and the company's measures to manage the challenging environment, S&P analyst Yasmin Wirjawan said in a statement.


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