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S & P reaffirms Tata Power rating
CHENNAI: Standard & Poor has reaffirmed BB foreign currency and BB+ local currency ratings on India-based Tata Power. According to a release, the outlook on the foreign currency rating is positive while the rating for local currency is stable. S & P views Tata Power's investments in the telecom sector as having high business risks. The company's exposure to this sector through equity and loans is about Rs. 1,220 crores or 14 per cent of total assets in fiscal 2004.
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