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Wednesday, June 9, 1999
Orient Paper debt plans downgraded
Paramvir Singh
Mumbai, June 8: Crisil has downgraded the Rs 50 crore bonds programme and the Rs 25 crore non convertible debenture plan of Orient Paper and Industries from `B' to `C' each. This revision in ratings factors-in the sustained pressure on the company's liquidity position, owing to the continued downturn in the paper and cement industry and its large financial commitments. The rating also factors in the further weakening of the company's capital structure.Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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