From THE HINDU group of publications
Sunday, August 20, 2000
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From THE HINDU group of publications Sunday, August 20, 2000 |
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United Phosphorus bond, FD schemes downgraded
Crisil has downgraded the Rs. 28-crore bond issue of United Phosphorous to BBB on account of its support to its subsidiary, Search Chem Industries (Search Chem).
The credit quality of Search Chem is low, resulting in a weakening in UPL's financial position. Crisil has also downgraded the FA+ rating assigned to the fixed deposit programme to FA-.
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