Financial Daily from THE HINDU group of publications
Friday, Aug 29, 2003
Financial Daily from THE HINDU group of publications Friday, Aug 29, 2003 |
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Money & Banking
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Corporate Bonds HTL debentures, CP under Crisil rating watch Our Bureau
Mumbai , Aug 28 CRISIL has placed the outstanding ratings on non-convertible debentures (NCD) and commercial paper programme of Hindustan Times Ltd (HTL) under rating watch with developing implications. The rating action follows management's decision to transfer their print media business into a separate company and infusion of foreign direct investment in the new media entity. Crisil said it was in dialogue with the management of HTL to ascertain the various implications of the proposed restructuring including the company's business plans post-equity infusion and the status of the rated NCDs and the commercial paper programme. "Crisil will take a final view on the rating after making a detailed assessment of the impact of the development,'' a press release said.
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