Fitch Ratings has assigned stable outlook at ‘BB+' to Tata Chemicals’ (TCL) long-term foreign-currency issuer default rating (IDR) following reduced energy costs, which will support a healthy margin. The rating reflects TCL’s globally leading and cost-competitive position in soda ash, geographic diversification, the soda-ash sector’s adequate exposure to non-discretionary end-markets, and improving financial profile.
Tata Chemicals is the second-largest producer of soda ash in the world with manufacturing facilities in India, UK, Kenya and USA. It is India’s leading crop nutrients player and a leading player in crop protection business through its subsidiary Rallis India.
