Date:08/07/2006 URL: http://www.thehindubusinessline.com/2006/07/08/stories/2006070803430900.htm

Back Crisil puts TN units on rating watch

Our Bureau

Mumbai , July 7

Crisil has placed the outstanding ratings of `A+(so)' on the Tamil Nadu Government- guaranteed bonds of the Tamil Nadu Electricity Board and Tamil Nadu Industrial Development Corporation on `Rating watch with negative implications'.

The action follows recent announcements by the State Government of its intention to implement various pre-electoral promises, including sale of rice at Rs 2 per kg, free power supply, waiver of farm loans and distribution of free colour television sets.

These schemes also form part of the Governor's address in the Legislative Assembly on May 24.