Moody assigns A3 issuer rating to TCS

Moody's Investors Service has assigned its A3 issuer rating and an indicative foreign currency debt rating of Baa1 to TCS.

US rating agency Moody's Investors Service has assigned its A3 issuer rating and an indicative foreign currency debt rating of Baa1 to IT services and consulting firm, Tata Consultancy Services (TCS).

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The ratings outlook was stable, reflecting the expectation that TCS would continue to execute its business model and maintain its competitiveness against its global peers, while preserving its sound financial profile with a net cash position, a company release said on Friday.

The indicative foreign currency debt rating of Baa1 is the rating that would be assigned to any foreign currency bonds sold under foreign law, it said.