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TATA
28 December 2016
Limited
Listing Department
National Stock Exchange of lndia Limited
Exchange Plaza
Bandra-Kurla Complex
Bandra (E)
Mumbai 400 051
Svmbol: TATACHEM
Dalal Street
Mumbai-400001
Scrip Code:500770
Ref:
Dear Sir,
lndia Ratinqs
Please find enclosed communication from lndia Ratings informing about the withdrawal of
ratings for Tata Chemicals Limited.
we wish to inform you that lndia Ratings has not been part of the rating agencies providing
credit rating/services for the Company for the past few years.
The list of rating agencies that provides credit ratings for the Company is enclosed herewith
the following link
also available on the Company's website
and
at
is
Yours faithfully,
For Tata Chemicals Limited
1::1811llelacompanySecretary
[
IN I[24239 4H1939PLC10289,
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28
By SudarshanShreenivas
IndiaRatingsandResearch(IndRa)haswithdrawnTataChemicalsLimited's(TCL)LongTerm
DEC2016
IssuerRatingtoINDAA+.TheOutlookwasStable.Afulllistofratingactionsisattheendofthis
commentary.
IndRawillnolongerprovideratingsoranalyticalcoverageforTCL.
TCLsratingsareasfollows:
LongTermIssuerRating:INDAA+OutlookStableratingwithdrawn
INR36billionbankfacilities:INDAA+OutlookStableandINDA1+ratingwithdrawn
INR2billioncommercialpaperprogramme:INDA1+ratingwithdrawn
SOLICITATION DISCLOSURES
Additionalinformationisavailableatwww.indiaratings.co.in.Theratingsaboveweresolicitedby,oronbehalfof,the
issuer,andtherefore,IndiaRatingshasbeencompensatedfortheprovisionoftheratings.
Ratingsarenotarecommendationorsuggestion,directlyorindirectly,toyouoranyotherperson,tobuy,sell,make
orholdanyinvestment,loanorsecurityortoundertakeanyinvestmentstrategywithrespecttoanyinvestment,loan
orsecurityoranyissuer.
PARTICIPATION DISCLOSURES
Theissuerdidnotparticipateintheratingprocess,orprovideadditionalinformation,beyondtheissuer'savailable
publicdisclosure.
DISCLAIMER
ALL CREDIT RATINGS ASSIGNED BY INDIA RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS.
PLEASE
READ
THESE
LIMITATIONS
AND
DISCLAIMERS
BY
FOLLOWING
THIS
LINK:
HTTPS://WWW.INDIARATINGS.CO.IN/RATINGDEFINITIONS.INADDITION,RATINGDEFINITIONSANDTHETERMSOF
USEOFSUCHRATINGSAREAVAILABLEONTHEAGENCY'SPUBLICWEBSITEWWW.INDIARATINGS.CO.IN. PUBLISHED
RATINGS,CRITERIA,ANDMETHODOLOGIESAREAVAILABLEFROMTHISSITEATALLTIMES.INDIARATINGSCODEOF
CONDUCT,CONFIDENTIALITY,CONFLICTSOFINTEREST,AFFILIATEFIREWALL,COMPLIANCE,ANDOTHERRELEVANT
POLICIESANDPROCEDURESAREALSOAVAILABLEFROMTHECODEOFCONDUCTSECTIONOFTHISSITE.
Rating Outstanding
(Ason28/Dec/2016)
LongTermIssuerRating
WD
BankLoan
WD
INR36000m
BankLoan
WD
INR36000m
CommercialPaper
WD
INR2000m
Applicable Criteria
CorporateRatingMethodology
Analyst Names
PrimaryAnalyst
SudarshanShreenivas
Director
IndiaRatingsandResearchPvtLtdWockhardtTowers,4thfloor,WestWingPlotC2,GBlock.
BandraKurlaComplexBandra(East),Mumbai400051
+912240001783
SecondaryAnalyst
AmeyJoshi
AssociateDirector
+912240001794
CommitteeChairperson
AbhashSharma
Director
+9102240001778
MediaRelation
MihirMukherjee
ManagerCorporateCommunicationsandInvestorRelations
+912240356121
TP
TATA
Type/!nstrument
LT Corporate Family Rating
22
Dec 2016
Current rating
Foreiqn Currency
Foreign Currency Long-Term
lssuer Default Rating (lDR)
Non-Convertible Debentures
of Rs 250 crore
Bal Stable
BB+
wth Stable ouJook
CARE AA+
CARE Ratings
765 crore
Brickwork Ratings