ICRA retains high credit quality issuer rating to Tata Metaliks

Mumbai, May 15 (UNI) Credit rating agency ICRA has retained the IrAA Issuer Rating to Tata Metaliks Limited (TML), indicating high credit-quality.

In a release here today, the ICRA said that TML carries low credit risk and the rating is only an opinion on the general credit worthiness of the TML and not specific to any particular debt instrument.

The rating agency considered TML's well established position in the domestic foundry grade pig iron industry in the Eastern region, its diversified market reach with its entry into the Western market subsequent to the recent acquisition and its operating profile.

TML, belonging to the Tata Group, is a leading player in the domestic pig iron industry. The company is currently one of the largest producers of foundry grade pig iron in the country.

UNI