Global credit rating agency, Fitch Ratings has affirmed India-based Tata Chemicals’ long-term issuer default rating (IDR) at ‘BB+’. The outlook is stable.
The company has received the said rating on the back of its access to trona mines at its US and Kenyan operations support its leading position in the soda ash industry. It also benefits from its position as one of the leading players in branded salt, and fertiliser and urea products in India.
The rating also factors in the integrated nature of the company’s Indian operations, widening demand/supply gap for fertilisers in India, and TCL's position as one of the most efficient urea producers in India.
Tata Chemicals is the world’s second largest producer of soda ash with manufacturing facilities in Asia, Europe, Africa and North America. The company’s industry essentials product range provides key ingredients to some of the world’s largest manufacturers of glass, detergents and other industrial products.
