Deals
Tata Turns to Swiss Tycoon to Trim Corus Debt: Corporate India
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Saddled with $13 billion of debt seven years after buying Corus Group Plc, Tata Steel Ltd. is seeking to pare its liabilities. Rating companies are pleased.
India’s largest maker of the alloy, facing depressed demand for its construction products in Europe, started talks with Swiss investment firm Klesch Group this month to sell some assets in the continent. Moody’s Investors Service said the move is “credit positive,” while Fitch Ratings said it will lower Tata Steel’s debt.