Singapore, Jan 14: Tata Steel's bonds tumbled to record lows after Standard & Poor's lowered its credit score further into junk territory, citing subdued operating performance and concern about its high leverage. The Indian steelmaker's $500 million of 2020 notes fell 3 cents to 90.99 cents on the dollar, driving the yield up 92 basis points to 7.48% asof 1:40pminHongKong, according to Bloomberg-compiled prices. Its $1 billion of July 2024 bonds lost 4.1 cents to79.94 cents to yield 9.42%. The securities were sold in 2014, Tata shares fell 3,8% in Mumbai to a one-month low.
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