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.