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S&P assigns investment grade rating to TCS

NEW DELHI: Tata Consultancy Services (TCS) on Tuesday said that leading rating agency Standard & Poor’s has given it a corporate credit rating of ‘BBB’ with a positive outlook and expects TCS’ liquidity to remain strong and more than sufficient to cover its short-term debt. TCS had strong liquidity, with cash and bank deposits of Rs. 1,230 crore on March 31, 2007. In addition, the company has investments in mutual funds, equity, and debt instruments of Rs. 1,270 crore. — Staff Reporter

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