Business Daily from THE HINDU group of publications
Saturday, Feb 02, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Saturday, Feb 02, 2008 ePaper | Mobile/PDA Version |
|
|
|
|
|
|
|
Markets
-
Stocks Corporate - Credit Rating
Our Bureau Mumbai, Feb. 1 Moody’s Investors Service has placed the ‘Baa3’ foreign currency issuer rating of Tata Chemicals Ltd on review for possible downgrade. The rating action follows the company’s announcement that it has entered into a definitive agreement to acquire 100 per cent in US-based General Chemical Industrial Products Inc (GCIP) for about Rs 4,000 crore ($1 billion). Mr Terry Fanous, Senior Vice-President, Moody’s, said, “Tata Chemicals will undoubtedly face integration challenges, given the size and operating profile of GCIP.” funding structureThe rating action reflects uncertainties associated with the funding structure, and the impact the acquisition will have on Tata Chemicals’ consolidated financial profile, he added. At the same time, Moody’s recognises that the acquisition will yield incremental benefits to Tata Chemicals, which will become one of the world’s largest producers of soda ash. The Mumbai-based Tata Chemicals is the flagship chemical company of the Tata Group. It is now the world’s 3rd largest producer of soda ash and domestic leader for branded salt, fertiliser and urea. More Stories on : Stocks | Credit Rating | Tata Chemicals Ltd | Chemicals
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
 |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2008, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|