ICRA assigns A1+ to Rs 300 cr Investments Debt programme of TGS

New Delhi, May 2 (UNI) (UNI) Credit rating agency ICRA today assigned the A1+ rating to the Rs 300 crore Short-Term Debt Programme of TGS Investment&Trade Pvt Ltd.

The rating indicates highest-credit-quality rating assigned by ICRA to short-term debt instruments.

Instruments rated in this category carry the lowest credit risk in the short term.

The rating factors TGS's strong parentage and the financial flexibility enjoyed by the company by virtue of it being part of the Aditya Birla group.

The rating also factors in the strong liquidity position of the company backed by the market value of holdings in listed group entities and the strategic holdings of non-listed companies in various Aditya Birla group companies.

TGS Investment&Trade Pvt Ltd reported a net profit of Rs 1.9 crore on a total income of Rs 12.6 crore for the year ended 2006, as against a profit of Rs.5.99 crore on a total income of Rs 10.31 crore during the previous year.

UNI SBJ RA PM1648