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Crisil rating Tata Technologies

 

A P1+ rating has been assigned to the Rs 15-crore (enhanced from Rs 12 crore) short-term debt programme of Tata Technologies Ltd and a AA- rating has been assigned to the company's Rs 20-crore NCD issue. The ratings are based on Tata Technologies' status a sole provider of all information technology and engineering & design services to its parent, Tata Motors Ltd, rated 'AA/P1+' by Crisil. The rating also derive comfort from the fact that Tata Motors' routine operations are critically dependent on these services. Crisil expects Tata Technologies to continue being a critical service provider to Tata Motors in the foreseeable future.