Tata Steel UK, a 100% indirect subsidiary of Tata Steel Ltd, has held meetings in London and Mumbai with its banking syndicate, which participated in the debt financing for the acquisition of Corus Group plc, to pro-actively discuss the current environment and the potential future impact on some covenant requirements under the Company's debt package.
Tata Steel UK has performed strongly in 2008-09 and has met all its covenant obligations to date, with a strong liquidity position at the year end.