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Crisil
has upgraded the Rs 1.91 billion non-convertible
debenture programme of Tata Chemicals to 'AA+'
with a stable outlook from 'AA' with a positive
outlook. The upgrade is within the high safety
grade. Crisil said the upgrade reflected the benefits
that would accrue to Tata Chemicals following
its acquisition of Hind Lever Chemicals, which
is expected to reduce debt and interest costs.
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