Business Daily from THE HINDU group of publications
Wednesday, April 2, 2008 ePaper | Mobile/PDA Version
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Business Daily from THE HINDU group of publications Wednesday, April 2, 2008 ePaper | Mobile/PDA Version |
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News Update as at 18.00 hrs (IST)
Corporate Crisil upgrades NCD programme of Sterlite Ind MUMBAI: Crisil has upgraded the rating on Sterlite Industries' long-term non-convertible debenture programme to 'AA+/Stable' from 'AA'. Crisil has also newly assigned ratings of 'AA+/Stable' and 'P1+' to Sterlite Industries' cash credit and Letter of Cre dit facilities with banks, respectively. The rating on Sterlite Industries' short-term debt programme has been reaffirmed at the highest 'P1+'. Crisil's ratings reflect Sterlite Industries' strong market position in the non-ferrous metals segment, and sustained healthy financial risk profile. The current ratings are also supported by the company's improving operating efficiencies.
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