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CRISIL upgrades Tata Chemicals
Free Press Journal — April
19, 2004
CRISIL has upgraded Tata Chemicals' non-convertible debenture
(NCD) programmes from "AA/positive" to "AA+/stable".
The upgrade is based on benefits expected to arise from Tata
Chemicals' acquisition of Hind Lever Chemicals under a share
swap agreement and the improvement in Tata Chemicals' financial
profile with reduction in debt level and interest costs. The
merger with HLCL would strengthen Tata Chemicals' business
profile by imparting greater diversity to its revenue stream |
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