Duff & Phelps downgrades country's foreign-currency rating
Duff & Phelps Credit Rating Company on Monday downgraded the country's foreign-currency rating to double-B-plus (BB+) from triple-B-minus (BBB-), while the local-currency rating has been lowered to BBB from BBB+. With this downward revision, Duff & Phelps has put the country below investment grade.

Maharashtra SPV to invite bids for slum rehabilitation
The Maharashtra government's special-purpose vehicle Shivshahi Punarvasan Prakalp will invite tenders from Sept 5 for construction of two lakh houses under the slum-rehabilitation scheme. The scrutiny will take place on Sept 20 while finalisation of tenders will be done on Sept 28. The ground-breaking ceremony will be on Oct 2.

Streamline ECB norms for SMEs'benefit: Phdcci
The norms for external commercial borrowings (ECBs) need to be liberalised and simplified so that even small and medium enterprises can avail of the facility, the PHD Chamber of Commerce and Industry (Phdcci) has demanded.

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