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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Lafarge India
Crisil has placed the Rs 295-crore non-convertible debenture (NCD) programme of Lafarge India under rating watch with negative implications.
This follows Standard & Poor's placing the long-term credit rating of Lafarge S.A, the parent company, on credit watch with negative implications, after it made a friendly bid for a 74.4 per cent stake in Blue Circle plc.
Lafarge S.A. holds the majority stake of 85 per cent in Lafarge India. Lafarge is in the process of raising funds to partly fund its acquisition of Raymond's cement plant. However, the `P1+' rating assigned to the commercial paper programme has been reaffirmed.
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