Moody’s affirms Tata Consultancy

Moody's Investors Service said it affirmed the A3 local currency issuer rating on Tata Consultancy Services Ltd.

The outlook is stable.

"TCS' geographically diversified operations across multiple service verticals and industry-leading profitability are the cornerstone of its strong and resilient credit profile," Kaustubh Chaubal, Moody's vice president and senior credit officer, said in a news release.

"The company's status as India's largest and one of the world's leading IT solutions and services company and its extremely solid balance sheet with large cash and liquid assets support its A3 stable rating."

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