Moody’s upgraded Tata Steel Ltd’s long-term issuer rating to Baa3 investment grade from Ba1, changing the outlook to stable. This reflects Tata Steel’s successful debt reduction efforts and commitment to conservative financial policies. Despite a 10% increase in gross debt due to an acquisition, the outlook change signifies improved credit metrics. Moody’s expects this positive trend to continue as Tata Steel expands its capacity in India and Europe while maintaining prudent financial practices. The rating reflects Tata Steel’s strong market position in India and its improving European operations, especially after closing loss-making units in the UK. This upgrade is driven by resilient operations and India’s growing steel consumption. Tata Steel’s shares at NSE rose by 1.22% to close at Rs.128.95.