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Briefings
Crisil downgrades Prism Cements NCD
The Credit Rating Information Services of India ltd (Crisil) on Friday downgraded Prism Cements Ltd's Rs 55.5 crore non-convertible debentures issue from `moderate safety' to `high risk' rating. The revision in rating reflects the weak financial position of the company, which led to rescheduling a part of its debt obligations to institutions and banks, Crisil said in Mumbai. Prism Cements was facing pressure on excess capacity in the company's primary marketing area, resulting in pressure on realisations, it added.Citi in tie up with indiainfo.com
Citibank on Wednesday signed an agreement with indiainfo.com for providing its account holders with online shopping facilities. The facility of online shopping at indiainfo.com site has been offered to Citibank account-holders to start with, but will be extended to credit card holdersa also, a release said. GTB raises Rs 71 crore
Global Trust Bank (GTB) has raised Rs 71 crore of unsecured subordinated bonds for which allotment was made on March 6 to augment its capital adequacy ratio. The bond was issued at a cut-off rate of 12 per cent payable annually. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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