Fitch downgrades ratings of JSW Steel, Tata Steel with -tive outlook

Fitch Ratings has downgraded issuer default ratings (IDRs) of JSW Steel and Tata Steel to BB-minus from BB af ter completing a portfolio review. Fitch has also downgraded Tata Steel UK Holdings' long-term IDR to Bminus from B. The outlook is negative. The agency has also downgraded JSW Steel's and Tata Steel's senior unsecured rating to BB-minus from BB.