Default Risk Tumbles to Four-Month Low on Tata Coal Control

Bloomberg reported that Tata Power’s debt is seen to be safer as it increased its control over coal prices by purchasing Indonesian mine stakes.

The market news is quoted as saying:

Tata Power may be able to rely on its Indonesian mines for 50 percent of coal supplies, making the utility less vulnerable to price swings as India seeks to sustain expansion in the fastest-growing major economy after China.

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