Global rating agency Standard and Poor’s has raised the credit rating of Tata Steel and its subsidiary ABJA Investment Co from ‘B+’ to ‘BB-‘ on deleveraging and strong operating momentum. Tata Steel Ltd s debt level is expected to decline materially in the next two years due to a strong cash flow and the company s stated intention to reduce debt. In the base-case scenario, Tata Steel s adjusted debt could decline by about 30 per cent by March 2023 from the March 2020 level of about Rs 1 trillion, leading to steady improvement in credit metrics. About half of this decline is expected to have been delivered in 2020-21 (year ended March 2021). It has committed itself to reducing the absolute debt level by at least $1 billion per year from financial year 2021-22.
Photo by Joe O Neill. Stable designation reflects nimbleness, careful financial planning
Dickinson has maintained a Standard & Poor’s (S&P) A+ rating every year during the past decade, and this past year was no different. That s good news in any year. But it s even more impressive now, given the industrywide challenges posed by the COVID-19 pandemic.
S&P, a leading global index provider and data source best known for producing the essential S&P Index, has provided expert financial analyses and credit ratings of higher-ed institutions globally for more than 50 years. S&P upgraded Dickinson’s rating from A to A+ in March 2011.