ICRA Withdraws Ratings On IFCI Debt Issues

New Delhi, May 6: | Updated: May 7 2002, 05:30am hrs
Credit rating agency ICRA has withdrawn MB rating assigned to Rs 2,800 crore medium-term debt programme and A4 rating to Rs 2,000 crore short-term debt issue of Industrial Finance Corporation of India (IFCI).

The ratings have been withdrawn as this Delhi-based term lending institution had fully repaid the amount it had raised against two rated instruments, an ICRA release said on Monday.

There is no amount of outstanding against the two rated instruments, it added.Credit rating agency had earlier downgraded beleagured Industrial Finance Corporation of Indias short-term, medium-term and long-term debt issues and once again placed the financial institution under rating watch with negative implications, owing to asset liability mismatches and high non-performing assets.

PTI