Financial Daily from THE HINDU group of publications
Wednesday, Jul 10, 2002
Financial Daily from THE HINDU group of publications Wednesday, Jul 10, 2002 |
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Money & Banking
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Credit Rating Nedungadi Bank bonds get `LBB' Our Bureau
MUMBAI: ICRA has downgraded the rating of the Rs 20-crore tier 2 bond programme of the Negungadi Bank Ltd from `LBBB' (under rating watch), indicating moderate safety to `LBB', indicating inadequate safety. Negungadi Bank's asset quality has deteriorated with a significant increase in NPA levels over the last two years, mainly as a result of the expansionary phase of 1997-2000.
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