S&P Global Ratings on Wednesday last said it has lowered its ratings outlook on Tata Steel as the agency does not foresee improvement in the steel maker's earnings and financial profile over the next 12-18 months. The outlook reflects risks of further weakening in Tata Steel's credit profile if the effect of economic conditions and lower commodity prices are more prolonged than our current expectations, S&P Global Ratings said in a statement. The agency lowered its long-term foreign currency issuer credit rating on Tata Steel and subsidiary ABJA Investment Co. Pte. Ltd., and the issue rating on various US-dollar denominated senior unsecured notes ABJA has issued, to 'B+' from 'BB-'.
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