Care assigns AA- rating to MKVC bond
Care has assigned a `AA-' (SO) rating to the proposed Rs 1000-crore regular return bond of Maharashtra Krishna Valley Development Corporation. The bond will offer 15 per cent per annum with a bullet repayment at the end of the fifth year from the date of allotment. "A tripartite agreement among the Maharashtra government, MKVDC and trustees to the bondholders will assure adequate budgetary support from GoM for repayment of principal and payment of interest on the bonds till redemption," said a care release.TDC bond rating
Care has revalidated the `AA-' (SO) rating assigned to the bond issue of Tapi Development Corporation (TDC) up to an enhanced amount of Rs 500 crore. "The rating is based on the credit enhancement provided by government of Maharashtra's budgetary support," said a care release. The regular return bond will offer 15 per cent per annum .
KAGB posts Rs 11.23-lakh profit
The Kalahandi Anchalik Gramya Bank (KAGB), which was onthe verge of collapse a few years ago, has registered a profit for the first time in its 18 years of existence. "The implementation of a five year development action plan had helped the bank recover and post a Rs 11.23 lakh profit during 1998-99," said bank's chairman Santosh Kumar Mohapatra.
Ace Integrated Finance rating
Care has withdrawn the `BB' rating assigned to the fixed deposit programme of Ace Integrated Finance . "There are no outstandings against the rated issue," said a care release.
PHDCCI moots builders bank
The PHD Chamber of Commerce & Industry has suggested to set up an "exclusive builders bank" for providing easy access to funds for the housing sector.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
Printer-friendly page
