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Stock Report
S&P assigns BB+ Credit Rating to Tata Power
Posted On : 2007-05-10 09:50:42( TIMEZONE : IST )
Tata Power Company Ltd has announced that Standard & Poor's Ratings Services on May 10, 2007 placed its 'BB+' long-term foreign and local currency corporate credit ratings on the Company on CreditWatch.
To resolve the CreditWatch placement, Standard & Poor's is seeking further information on the schedule of the Company's projects and investments, and on the proposed means of financing. Standard & Poor's expects to resolve the CreditWatch within six to eight weeks.
The stock closed the day at Rs.573.90, down by Rs.14.20 or 2.41%. The total traded quantity was 78838 compared to 2 week average of 54266. The stock hit an intraday high of Rs.593.50 and low of Rs.570.
