CARE reaffirms credit rating of Tata Chemicals' bank facilities worth Rs3,300 crore; stock gains ~1%

14 Jul 2022 , 12:57 PM

Tata Chemicals Limited informed that the rating agency CARE Ratings Limited reaffirmed the ratings assigned to the company’s long-term and short-term bank facilities.

CARE ratings have assigned a ‘CARE AA+’ rating to the company’s long-term bank facilities worth Rs1,300 crore. Further, it assigned a Stable Outlook to the same.

The rating agency has reaffirmed a ‘CARE A1+’ rating to the company’s short-term facilities worth Rs2,000 crore.

Tata Chemicals is a science-driven company with a product portfolio that includes both basic and specialty chemicals. The company’s story is about harnessing the fruits of science for purposes other than profit.

At around 1.01 PM, Tata Chemicals was trading at Rs844 up by Rs6.3 or 0.75% from its previous closing of Rs837.70 on the BSE. The scrip hit intraday high and low of Rs848.40 and Rs835.10 respectively.