Tata Steel UK Ltd has signed an agreement to sell its European business long products investment firm based in UK Greybull Capital Moody is the positive credit for its parent , Tata Steel, Moody’s Investors Service said.
However, the agreement does not immediately affect notes Tata Steel and Tata Steel UK Holdings, based on the information so far on the amount of liabilities and debt transfer, the agency said in a note.
The Moody report said that sale of the long product business amid a challenging economic environment is credit positive, although a timely and seamless disinvestment of the UK business is a key rating sensitivity
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