S&P lifts Tata Power view to positive

Standard & Poor's said it revised the outlook on Tata Power Co. Ltd. to positive from negative.

The agency also said it affirmed the company's B+ long-term corporate credit rating and the B+ rating on its senior unsecured notes.

The outlook was revised to reflect the favorable regulatory developments and Tata Power's debt-reduction measures, which are expected to improve its liquidity and cash flows over the next 12 months, said Rajiv Vishwanathan, an S&P analyst.

The agency believes the company will be able to address the loan covenant breach at its Mundra project over the next 12 months, given the favorable regulatory decision, Vishwanathan said in a press release.

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