Credit rating agency, Crisil has upgraded the ratings of Tata Teleservices’ (Maharashtra) (TTML) bank loan facilities worth Rs 5,166 crore. The credit rating agency cited the strong support expected from Tata Sons to Tata Teleservices and its associate TTML as the rationale for the upgrade.
The rating agency has upgraded the company’s ratings on the bank loan facilities to ‘AA-/ A1+’ from ‘A/A1’. The AA rating indicates high degree of safety regarding timely servicing of financial obligations. The ratings have been removed from ‘watch with developing implications’ and a ‘stable’ outlook has been assigned to the long-term facilities.
TTML is a part of the Tata Group. This telecom services company has its presence all over Maharashtra and Goa.
