• search

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

Written by: Staff
Subscribe to Oneindia News

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

For Breaking News from Oneindia
Get instant news updates throughout the day.

X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more