From THE HINDU group of publications
Sunday, January 21, 2001
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From THE HINDU group of publications Sunday, January 21, 2001 |
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Ballarpur Industries
Crisil has assigned an `AA+ (so)' rating to the Structured Debt Obligation of Ballarpur Industries Ltd (BILT), thereby making it the first partially-guaranteed instrument to be rated in the Indian debt market.
The rating is based on a partial guarantee proposed to be provided by the International Finance Corporation (IFC), Washington, and is supported by a structured payment mechanism to facilitate timely payment of debt obligations.
The rating indicates high safety with regards to timely payment of interest and principal on the structured debt obligation. The rating also factors in BILT's standalone credit quality which indicates adequate degree of safety to meet its financial obligations.
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