Tata Steel Ltd.

CARE has reaffirmed ‘AA+’ rating to Tata Steel’s Non-Convertible Debentures (NCD) worth of Rs 6,150.90 crore, which was reduced from Rs 9,000 crore. The rating agency has also reaffirmed ‘AA’ rating to company’s Perpetual Bond Issue worth of Rs 2,275.00 crore, which was reduced from Rs 2,500 crore.

The ratings continue to reflect the financial flexibility of TSL on account of being part of the Tata Group, its strong Indian operations aided by backward integration in the form of captive iron ore and coal mines making it one of the lowest cost producers of crude steel in the world, 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.