S&P LOWERS INDIA'S SOVEREIGN RATING, SAYS OUTLOOK IS STABLE
Article Abstract:
Standard & Poor's, an international credit rating agency, has reduced India's sovereign rating to BB from BB-plus and its long- term local currency sovereign credit rating to BBB from BBB-plus. The agency has changed the country's outlook to stable from negative. The agency says that the downgrading of the sovereign rating reflects on the decreasing prospects for meaningful fiscal adjustment. This has weakened the sustainability of recent economic growth rates and increased the country's high external debt burden. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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DREDGING CORPORATION DECLARES 33% DIVIDEND
Article Abstract:
The Dredging Corporation of India has declared a 33 percent dividend for 1997-98. This involves an outgo of Rs9.24 crore. The public sector undertaking, under the ministry of surface transport, showed an income of Rs238 crore in 1997-98 which includes an operational income of Rs211.87 crore. The company has posted a net profit of Rs42.34 crore in 1997-98. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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