Moody’s upgrades Tata Power rating to Ba1, maintains stable outlook

Tata Power on Friday said Moody’s Investors Service has upgraded the corporate family rating of Tata Power to Ba1 from Ba2 and maintained a stable outlook.

According to a report from Moody’s, the rating upgrade to Ba1 is driven by Tata Power’s solid financial metrics, which are projected to remain above the upgrade trigger set for the earlier Ba2 rating.

“Moody’s Investor Service has upgraded the corporate family rating of the Tata Power Company Ltd to Ba1 from Ba2, and maintained the stable outlook,” a BSE filing said.