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Wednesday, Nov 27, 2002

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`AAA' rating for Exim Bank issue

Our Bureau

MUMBAI, Nov. 26

EXIM Bank of India has received the `AAA' rating for its proposed Rs 1,000-crore bond issue from the Credit Rating Information Services of India Ltd.

The funds will be used for lending activities. We have seen signs of pick-up in export credits. There is also demand for credit from export-oriented units, said a senior official in Exim Bank.

"The Bank has already raised close to Rs 150-crore through various bond issues," the official said.

Exim Bank also had its `AAA' rating for the Rs 700-crore bonds issue and the Rs 2,300-crore bonds issue reaffirmed along with its `FAAA' rating on the term deposit reaffirmed.

The certificates of deposit programme was reaffirmed as `AAA' rating and the commercial paper programme a rating of `P1+', said the release.

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