Tata Teleservices (Maharashtra) announced that CARE Ratings has assigned the following ratings for bank facilities of the company -
Long term bank facilities term loan (Rs 1192.50 cr) - CARE A+; Stable (assigned)
Long term bank facilities fund based cash credit (Rs 50 cr) - CARE A+; Stable (Long Term rating reaffirmed, outlook assigned to Stable, and removed from Credit Watch with DevelopingImplications)
Short term bank facilities non fund based BG/ LC (Rs 209 cr) - CARE A1+ (Short term rating reaffirmed, removed from credit watch with developing implications)
Long term / short term - fund based / non fund based (Rs 1000 cr) - CARE A+/Stable / CARE A1+ (assigned)
Commercial paper (Rs 9000 cr) - CARE A1+ (short term rating reaffirmed, remove from credit watch with developing implications.
The ratings assigned to the bank facilities/instruments of Tata Teleservices (Maharashtra)(the Company) were placed on 'Credit Watch with Developing Implications' onaccount of the announcement by the Company to combine their consumer telElcom businesswith Bharti Airtel. The credit watch has been removed and the Outlook is assigned to