Credit rating agency, CARE has reaffirmed AA+ rating to Tata Chemicals’ long term bank facilities worth Rs 900 crore which was enhanced from Rs 715 crore. The rating agency has also reaffirmed A1+ rating to the company’s short term bank facilities worth Rs 2,810, enhanced from Rs 2,532 crore.
The company has received the said rating reaffirmation on the back of its long and established track record, dominant position in the global soda ash industry, diversified revenue streams resulting from a varied product portfolio as well as geographically dispersed sales.
Tata Chemicals, part of the Tata Group, is a leading manufacturer of chemicals, fertiliser and food additives. Meanwhile, HIPL’s principal activity is to hold investments.
