FIN FIRMS TOP THE RECESSION BUSTER CHART
Article Abstract:
Thirty-four financial instruments managed to get a higher rating by one of the 4 credit rating agencies in 1998. Of these, Crisil upgraded 19 companies, ICRA 9, CARE 6 and DCR, Duff and Phelps' subsidiary in India, none. Finance companies topped the list of upgrades, accounting for 5 of 6 upgrades by CARE, 2 by Crisil and 3 by ICRA. Of the 34 upgrades, 8 were raised to high safety and 6 to highest safety. Seventeen companies were upgraded to adequate safety and 4 to moderate safety. Only 4 companies - Bausch and Lomb India Ltd, Vasishti Detergents Ltd, Nuclear Power Corporation of India Ltd and Bata India Ltd - got upgraded by more than one grade at a time. (pn) (kvr)
Comment:
Thirty-four financial instruments managed to get a higher rating by one of the 4 credit rating agencies in 1998.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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KOFL DENIED NFBC STATUS
Article Abstract:
Kothari Orient Finance Ltd (KOFL) of Chennai has failed to receive the non-banking finance company (NBFC) status from the Reserve Bank of India (RBI). The RBI has stated that KOFL cannot take up the activities of NBFC. The RBI's orders have come at a time when KOFL has evolved a repayment schedule for its outstanding deposits, worth Rs15 crore. (ag)(psr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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