The Crisil has assigned `FAAA' rating to the fixed deposit programme of Hero Honda Motors Ltd (HHML). The rating reflects the strong position of the company in the motorcycle industry along with the fundamentals favouring the two-wheeler industry in general and the motorcycle industry in particular.

The rating also factors in HHML being a part of the Hero group which is the largest manufacturer of bicycles in the world and the technical equity and marketing support extended by Honda Motors company of Japan which is the largest manufacturer of two-wheelers in the world, according to a Crisil release.

Repo sale draws a blank

The Reserve Bank on Monday did not receive any application for a three-day fixed rate repo in GoI dated securities for parties holding SGL and current account.

Lucas Indian rating re-affirmed

Crisil has reaffirmed the rating of the fixed deposit programme to `FAAA' and `P1' rating assigned to the Rs 50-millioncommercial paper programme of Lucas Indian Service Ltd (LISL). According to a Crisil release, the rating is reflective of LISL's strong market position on account of the established reputation of Lucas TVS (LTVS) products for which it is the largest distributor in the replacement market. The rating also factors in LISL's steady financial performance with stable margins, comfortable gearing and interest cover levels, as well as the fact that it is a wholly-owned subsidiary of LTVS partly offsetting these are the company's small size, stagnant turnover and increased competition from the unorganised market.