From THE HINDU group of publications
Sunday, February 11, 2001
|
From THE HINDU group of publications Sunday, February 11, 2001 |
||
|
|
         • SITE MAP • ARCHIVES • INDEX • HOME |
Bonds & FDs
| Previous
| Next
Maharashtra State Govt-backed bond programmes downgraded
Crisil has downgraded the bond programmes of the Maharashtra State Government-backed Maharashtra Krishna Valley Development Corporation, Konkan Irrigation Development corporation, Tapi Irrigation Development Corporation and Vidarbha Irrigation Development Corporation from `A' to `BB+-' from the last slab of investment grade to speculative grade, skipping four notches.
The downgrade follows the non-payment of dues by the Maharashtra State Government to the Dhabol Power Company Ltd (DPC), despite the invocation of the state guarantee by DPC. The rating revision was triggered by the delay in discharging financial obligations.
|
|
Section : Bonds & FDs Previous : Two per cent rate cut -- An unfair exercise Next : BPL NCD programme Capital Offers | Stocks | Bonds & FDs | Mutual Funds | Industry | Markets | Personal Finance | Opinion | Indicators | Copyrights © 2001 The Hindu Business Line Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line |