CARE reaffirms rating of Tata Steel’s Bank facilities

Credit rating agency, CARE has reaffirmed AA+ rating to Tata Steel’s Non-Convertible Debentures (NCD) worth Rs 9,000 crore and Long term Bank Facilities worth Rs 5,698 crore.

The rating agency has also reaffirmed AA rating to the company’s Perpetual Bond Issue worth Rs 2,500 crore.

The company has received the said rating reaffirmation on the back of its strong liquidity position and geographically diversified presence. 

Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world`s second most geographically diversified steel producer and a Fortune 500 Company.