Standard & Poor's, S&P downgrades outlook on Tata Power to negative from Stable

Standard & Poor's, S&P downgrades outlook on Tata Power to negative from Stable

Standard & Poor's downgraded the outlook for India's Tata Power to 'negative' from 'stable' on Monday, 9th July citing the company's limited ability to arrange funds for a 4000 megawatt project in Gujarat, after it breached a debt pact.

The company's cash flow and financial risk profile could deteriorate over the next six to nine months and availability of funds to the company will be limited, the ratings agency said in a statement.

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