Crisil increases Tata Finance outlook to positive from stable

By Our Banking Bureau | 10 Dec 2003

Mumbai: Rating agency Crisil has revised the rating outlook for Tata Finance to ''positive'' from ''stable''.

The outlook reflects a significant improvement in the company''s earnings profile and an expectation that the company will report a net profit in the financial year 2003-04, according to a press release.

"In Crisil''s view, the improved resources profile as evidenced by the reduced cost of funds and the lower-than-expected loss levels from its non-core assets will be key catalysts enabling Tata Finance to register profits at the net level for FY 2003-04," the release added.