Moody's rates Tata Chemicals Baa3

Moody's Investors Service said it assigned a Baa3 corporate family rating to Tata Chemicals Ltd.

The outlook is negative.

The rating reflects the company's leading position in the global soda ash industry, Moody's siad, and its solid domestic fertilizer business, which benefits from its well-established operations and stable regulated rate of return. The rating also recognizes its competitive cost position and diversified product portfolio, the agency said.

The rating also considers the company's high financial leverage and the cyclical nature of the commodity chemical industry, Moody's added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.