Tata Power outlook revised to positive on refinancing progress, says S&P
Updated : July 19, 2018 06:39 AM IST
According to the statement, the outlook revision reflected its expectation that Tata Power would refinance its debt to significantly alleviate liquidity pressures in the next three to nine months.
The agency expected the company to refinance its external commercial borrowings related to its Mundra project in the next three months, removing the covenant breach.
The positive outlook at the time of the withdrawal also reflected its expectation that the company's ongoing asset sales, stable regulated cash flows, and growth in the renewables segment would help reduce leverage.
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