India Ratings Withdraws Credit Ratings for Tata Capital Limited
Tata Capital has requested India Ratings and Research to withdraw all credit ratings for its debt instruments, including Commercial Paper (Rs 80 billion), Bank Loan Facilities (Rs 10 billion), and Non-Convertible Debentures (Rs 2.50 billion). The company has ceased to be a core investment company and now holds an NBFC Investment Credit Company license, marking significant changes in its operational structure.
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Tata Capital has requested India Ratings and Research (Ind-Ra) to withdraw all credit ratings for its debt instruments. This move affects multiple financial instruments previously rated by the agency.
Withdrawn Ratings
| Instrument | Amount | Previous Rating |
|---|---|---|
| Commercial Paper | Rs 80.00 billion | IND A1+ |
| Bank Loan Facilities | Rs 10.00 billion | IND AAA/Stable |
| Non-Convertible Debentures | Rs 2.50 billion | IND AAA/Stable |
The rating withdrawal aligns with Ind-Ra's policy, as the ratings were no longer being utilized and maintenance was not required.
Changes in Tata Capital's Status
Tata Capital has undergone significant changes in its operational structure:
- The company ceased to be a core investment company.
- It now holds an NBFC Investment Credit Company license.
These developments mark important shifts in Tata Capital's business model and regulatory classification, potentially impacting its future financial strategies and market positioning.
The withdrawal of credit ratings and the change in the company's status as an NBFC Investment Credit Company could have implications for investors and stakeholders. However, it's important to note that the rating withdrawal was initiated at the company's request and follows the rating agency's standard procedures.
Historical Stock Returns for Tata Capital
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.49% | -3.00% | -1.65% | -1.65% | -1.65% | -1.65% |
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