Financial Daily
from THE HINDU group of publications
Tuesday, September 19, 2000
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Financial Daily from THE HINDU group of publications Tuesday, September 19, 2000 |
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BILT fixed deposit, NCD issues upgraded
NEW DELHI: Credit Rating Information Services of India Ltd (Crisil) has upgraded the ratings of the fixed deposit programme as well the non-convertible debenture (NCD) issues of
Ballarpur Industries Ltd (BILT).
While the rating for BILT's fixed deposit programme has been upgraded to `FA+' from `FA-', the rating for the NCD issues of Rs 53.25 crore, Rs 50.6 crore, Rs 50 crore and Rs 32.48 crore have been upgraded to `A' from `BBB'.
A statement issued by the company said that the revised ratings were effective from September 11.
The revised rating reflects adequate safety regarding timely payment of interest and principal, anticipated improvement in the company's financial risk profile on account of the proposed reduction in the debt usage level in the medium term from the expec
ted surplus cash flows from operations and sale of strategic investments, according to the statement-- Our Bureau
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