Financial Daily from THE HINDU group of publications
Tuesday, Jun 01, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jun 01, 2004 |
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Markets
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Credit Rating Corporate - Corporate Bonds Info-Tech - Telecommunications LLA rating for Bharti Tele NCD Our Bureau
Mumbai , May 31 ICRA, an associate of Moody's Investors Service, has assigned an LAA rating to the Rs 100-crore non-convertible debenture programme of Bharti-Televentures Ltd indicating high safety. This rating takes into account the company's position as the leading private sector telecommunication service provider in the country. The rating also factors in reduced uncertainty in the regulatory framework and improvement in the inherent profitability of the wireless business, primarily due to significant reduction in network capital costs and financing costs, said a statement from ICRA. Noting that BTVL, may continue to be on the lookout for major acquisitions even after its recent Hexacom India acquisition, ICRA said its rating does not factor in the impact of any such major acquisition.
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