Financial Daily from THE HINDU group of publications
Monday, Jul 22, 2002
Financial Daily from THE HINDU group of publications Monday, Jul 22, 2002 |
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Credit Rating Corporate - Short Term Instruments Crisil reaffirms NCD, CP ratings Our Bureau
MUMBAI, July 21 CRISIL has reaffirmed the ratings assigned to Hindalco Industries Ltd's non-convertible debenture programme and commercial paper programme. The non-convertible debenture programmes have been assigned `AAA' ratings and the commercial paper programme `P1+'. In reaffirming the ratings, Crisil has factored in the ongoing brownfield capacity expansion projects of Hindalco, Indal and the expansion of the copper production capacity from 1,50,000 tonnes to 2,50,000 tonnes. "The ratings continue to reflect Hindalco's favourable operating efficiency, its low-cost structure stemming from its integrated operations and strong market position in the domestic aluminium industry,'' Crisil said.
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