Credit rating agency CARE has assigned the ‘CARE AA+’ rating to the non-convertible debenture issue by Tata Chemicals to the tune of Rs 240 crore.
Instruments holding the CARE AA+ rating are considered to be highly safe and have a timely service of debt obligations.
The key rating was awarded to Tata Chemicals due to its ability to maintain the profitability margin in the current economic scenario characterized by slowdown in demand and credit crunch.