Primary fertiliser sales volume during first four months of FY22 registered 11 percent decline compared to 4M FY21, mainly due to the base effect as during H1 FY21 fertiliser sales witnessed an upsurge owing to panic buying by farmers following Covid-19 pandemic led lockdown. Rating agency ICRA said the overall […]
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ICRA revises GE Power India’s outlook to negative from stable
ICRA has reaffirmed A-plus rating on GE Power India Ltd (GEPIL) but said the outlook revision to negative from stable on the bank lines is driven by deterioration in credit profile on account of losses incurred in Q1 FY2022. The losses were primarily attributable to the cost overrun in National Hydroelectric Power Corporation’s Subansiri project where GEPIL is a contractor […]
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ICRA reaffirms AAA stable for Axis Bank’s infra bonds, debentures
ICRA has reaffirmed AAA rating on Axis Bank’s infrastructure bonds and debentures worth Rs 22,205 crore. At the same time, it has reaffirmed A1-plus rating on the private lender’s certificates of deposit worth Rs 60,000 crore. The highest credit quality ratings to Axis Bank’s debt instruments are supported by its strong capitalisation levels with core equity capital at […]