ICRA retains A1+ rating for TRL's Rs 30 cr CP prog

New Delhi, Mar 31 (UNI) Rating agency ICRA has reaffirmed the A1+ rating for the Rs 30 crore Commercial Paper programme of Tata Refractories Ltd (TRL), indicating highest credit-quality in the short term.

The rating continues to reflect TRL's leading position in the domestic refractory industry, its diversified product portfolio, cost competitiveness in certain refractory categories on account of easy access to raw materials, and the strengths derived from its status as a subsidiary of Tata Iron and Steel Company Ltd (Tata Steel).

UNI SS SR KP1758