June 27, 2005 | The Economic Times

Tata Autocomp Systems

Crisil has assigned AA rating to the Rs 50-crore ND issue of the. Tata Autocomp Systems (Taco). The rating reflects its importance for the Tata group for its foray into the automotive components sector. The rating factors support from Tata Industries (Tata Industries, rated AA/Stable/Pl+by Crisil), due to its active involvement in the management and strategic decisions of Taco. Taco's financial profile should improve as its joint ventures turn profitable over the next year or two and dividend sreams from them augment its operating revenues.