Sunday, 22 December 2013

CRISIL assigns stable outlook to Tata Sons' Rs 630-cr NCD issue

CRISIL Ratings has assigned a stable outlook to Tata Sons' Rs 630-crore non-convertible debenture (NCD) issue, said the media report.

It also maintained the 'outstanding' rating on the company's debt programmes and bank facilities at 'CRISIL AAA/FAAA/Stable/CRISIL A1+.'

The stable outlook for the NCDs reflected Tata Sons' financial flexibility as the principal holding company of the Tata group, the agency said in a release.

"CRISIL believes Tata Sons' business risk profile will be increasingly dependent on the success of its investments, which carry risks associated with implementation and integration," it said.

The rating agency may revise its outlook to 'negative' if Tata Sons' financial flexibility is adversely affected, especially in case of larger-than-expected investments, added the media report.

Sandip Ginodia , Director

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