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Tata Steel’s decision to sell British operations credit positive: Moody’s

Published

9 years ago

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steelChennai: Credit rating agency Moody’s Investors Service (Moody’s) on Friday said Tata Steel Ltd’s decision to restructure its British operations is credit positive but there is no immediate impact on its ratings.

In a statement, Moody’s said Tata Steels planned restructuring/divestment of its British businesses is credit positive because it will reduce some of the negative pressure on its operating performance.

But pending finalisation of the restructuring plan and the uncertainty around the extent of improvement in the credit profiles of Tata Steel and Tata Steel UK Holdings Limited (TSUK Holdings), there is no immediate impact on the ratings on Tata Steel (Ba3 negative) and TSUK Holdings (B3 negative), it said.

On March 30, Tata Steel announced that it would explore all options in restructuring its wholly-owned subsidiary, Tata Steel Europe Limited (unrated), including the potential divestment of its step-down operating subsidiary, Tata Steel UK Limited (TSUK, unrated), in whole or parts.

“The potential sale of the UK operations is credit positive for Tata Steel and TSUK Holdings, because it would dispose of loss-making assets, against the backdrop of a challenging operating environment; namely depressed steel prices and a situation where global steel supply continues to exceed demand,” said Moody’s vice president and senior analyst Kaustubh Chaubal.

With the impact of the loss-making TSUK operations being addressed, Moody’s expects TSUK Holdings’ operating performance to improve, based on the expectation that steel demand in Europe will increase by 1-1.5 percent in 2016, and the imposition of anti-dumping duties by the European Commission in February 2016 on steel imports from China and Russia.

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Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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