December 18, 2003 | Financial Express

Icra assigns highest safety to TAPS debt

Credit rating agency Icra on Wednesday assigned an highest safety 'A l' rating to the short term debt of Tata Auto Plastic Systems (TAPS). Icra took into account the company's preferred supplier status by Tata Motors, the strong operating profitability and cash flows due to successful relaunch of Indica, and the overall buoyancy of the domestic automobile industry, the credit rating agency said in a statement here.