CARE reaffirms rating of TRF’s CP/ STD programmes

Credit rating agency, CARE has reaffirmed A1+ rating to Rs 90 crore Commercial Papers (CP) /Short Term Debt (STD) programmes of TRF.

The reaffirmation of rating takes into consideration long and satisfactory track record of the company, strong group support, proven project execution capability with strong technical tie-ups, reputed clientele, captive construction equipment and Material Handling Equipment (MHE) production facilities and satisfactory order book and financial position with comfortable leverage.

TRF, incorporated in 1962, belongs to Tata group and is engaged in the business of design, manufacture, supply, installation and commissioning of engineered-to-order equipment and systems.