Financial Daily from THE HINDU group of publications
Wednesday, Mar 03, 2004
Financial Daily from THE HINDU group of publications Wednesday, Mar 03, 2004 |
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Money & Banking
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Private Banks Centurion Bank CoD gets `fair' credit rating Our Bureau
Mumbai , March 2 FITCH Ratings India has placed the Certificate of Deposit (CoD) programme of Centurion Bank on `F3(ind)' grade, indicating fair credit quality. It is on rating watch with positive implications. `F3(ind)' ratings indicate that the capacity for timely payment of financial commitments is adequate; however, near-term adverse changes could result in a reduction to non-investment grade. Fitch said in a press release, "This follows the approval of the restructuring and recapitalisation programme of Centurion Bank and successful completion of the first phase of equity infusion under the new management."
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