ICRA DOWNGRADES TFCI, CALLS FOR CAPITAL INFUSION
Article Abstract:
Investment Information and Credit Rating Agency (ICRA) has downgraded the credit rating of Tourism Finance Corporation of India's (TFCI) two fund programmes. While the credit rating for Rs50-crore bond programme has been revised from LAA to LAA-, the Rs50-crore certificate of deposit programme has been downgraded from MAA to MAA-. ICRA has warned TFCI of an asset liability mismatch if the non performing assets continue to grow at the same rate. It has asked for additional capital infusion to help company come out of red. The company's performance have been poor following the recession in the tourism industry. (um)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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ICRA ASSIGNS `MAAA' RATING TO SUNDARAM FIN
Article Abstract:
The fixed deposit programme of Sundaram Finance Limited (SFL) has been assigned MAAA rating by the Indian Credit Rating Agency (Icra). This rating indicates highest safety and prospects of timely servicing of interest and principal as per terms. In 1997- 98, the collection performance of SFL declined to 90 percent from the previous level of 95 percent. But this does not affect the liquidity, which has remained comfortable. (gsh)
Comment:
Fixed deposit program of this co has been assigned MAAA rating by the Indian Credit Rating Agency
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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