TSL
debentures get highest safety rating
Financial Express — August 28, 2001
Mumbai:
The Credit Rating Information Services of India
Ltd. (Crisil) has assigned a rating of ‘AAA’ to
Tata Sons Ltd’s (TSL) Rs.500-crore non-convertible
debentures.
The rating indicates highest safety and
reflects the business strength and strong cash
flows of the company’s largest division.
Tata Consultancy Services (TCS)
The
financial profile of
TSL is characterised by comfortable gearing
and interest coverage levels, despite large level
of investments in Tata Group companies over the
last three years. Tata Consultancy Services accounts
for over 90 per cent of TSL’s total revenues.
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