Tata Power Company said that CRISIL Ratings has upgraded its long term rating on the bank loan and debt facilities of the company to ‘CRISIL AA+/Stable’ from ‘CRISIL AA/Positive’.
The agency has reaffirmed its ‘CRISIL A1+ rating on the companys commercial paper programme and short-term bank loans.
CRISIL stated that the rating upgrade reflects the improving business risk profile of the company with sustained improvement in operating profitability across the power generation and distribution business during fiscal 2024.
