The RBI on Friday mopped up Rs 100 crore through a three-day fixed-rate repo in government of India dated securities for parties holding SGL and current accounts. The central bank received one application and accepted it.

Icra assigns MAAA rating to Cholamandalam debt:

Icra has assigned an MAAA rating to the Rs 50-crore non-convertible debenture programme of Cholamandalam Investment and Finance Company signifying highest safety. "The prospect of timely servicing of interest and principal as per terms is the best," an Icra release stated.

Three-day repo today:

The RBI has announced a three-day fixed-rate repo in government of India dated securities on July 11 for parties holding SGL and current accounts. The interest rate for the repo is pegged at 5 per cent. Payment by applicants will be on July 11 and repurchase by the RBI on July 14.

Crisil assigns Grade V rating to Wealth Agro schemes:

Crisil has assigned an highuncertainty (Grade V) rating to the collective investment schemes of Wealth Agro Plantation India. The collective investment scheme will provide the assured returns in the form of produce and cash. The rating reflects the high risk profile of the company on account of its low capitalisation level, nascent stage of operations, negligible operational cash flows and inherent vulnerability of business to the vagaries of nature.

Crisil downgrades Premier Housing debt plan:

Crisil has downgraded the fixed deposit programme of Premier Housing and Industrial Enterprises from FB to FD. The revision in the rating is indicative of the continued strain on the company's liquidity position as a result of delay in obtaining working capital funds for its projects.

Icra asign LAA rating to Gujarat Heavy Chemicals debt:

Icra has assigned an LAA rating to the Rs 30-crore non-convertible debenture programme of Gujarat Heavy Chemicals indicating high safety. Icra has retained the MAA+ rating assigned to thefixed deposit programme indicating high safety and the A1+ rating assigned to the commercial paper programme indicating highest safety.

Corporation Bank dividend:

The Corporation Bank held the first annual general meeting of its shareholders at Mangalore on Friday. At the meet, bank CMD RS Hugar announced that pursuant to the RBI's approval, the board of directors have declared a 35 per cent dividend for year 1997-98 on a pro rata basis.