CARE Ratings Limited has reaffirmed the credit ratings of Tata Chemicals. The ratings for long-term bank facilities and non-convertible debentures remain at CARE AA+; Stable. The rating for short-term bank facilities is reaffirmed at CARE A1+. These ratings reflect CARE’s assessment of Tata Chemicals’ financial stability and creditworthiness.
Credit Ratings Maintained
Tata Chemicals has received confirmation that its credit ratings have been reaffirmed by CARE Ratings Limited. This announcement follows a recent assessment by CARE, solidifying the company’s standing in the financial markets.
Details of Ratings
The ratings reaffirmed are as follows:
Non-Convertible Debentures (NCDs): CARE AA+; Stable for ₹1,700 crore
Long Term Bank Facilities: CARE AA+; Stable for ₹1,300 crore
Short Term Bank Facilities: CARE A1+ for ₹2,000 crore
Implications
These reaffirmed ratings indicate a stable outlook for Tata Chemicals. The CARE AA+; Stable rating for long-term facilities suggests a low credit risk, while the CARE A1+ rating for short-term facilities highlights the company’s strong ability to meet its immediate financial obligations. This confirmation can positively influence investor confidence and potentially lower borrowing costs for the company.
Source: BSE
