Banks (Finance)
Kothari Petrochemicals Limited, the largest manufacturer of poly iso butylene (PIB) in India, has received a rating upgrade from ICRA. The upgrade considers the company's successful diversification of its feedstock suppliers, including the addition of Vinati Organics Limited and Indian Oil Corporation Limited, which mitigated the risk of
Banks (Finance)
Shri Tulsi Oil Products, a partnership firm engaged in the oil manufacturing industry, has been assigned a long-term rating of ICRA B+ by ICRA. The assigned rating takes into account the firm's established track record and easy availability of raw material. However, the rating is constrained by the
Banks (Finance)
Smart Card IT Solutions Limited has faced a setback after ICRA suspended its ratings due to the company's inability to provide requisite information. This move comes as a result of ICRA's attempt to conduct a rating surveillance, which was hindered by the lack of necessary data
Banks (Finance)
Print Solutions Private Limited (PSPL), a part of the Century 21 group involved in real estate development in the Indore region, has been assigned a long-term rating of 'ICRA D' (pronounced ICRA D) to its Rs. 11.0 crore bank facilities by ICRA. The rating is driven by
Banks (Finance)
The Bank of England's head, Mark Carney, has sounded a warning on the impact of mass immigration on the UK economy, citing high rates of foreign workers as a key factor in subdued pay rises over the past few years. The comments come as official figures reveal a
Banks (Finance)
The Bank of England's investigation into potential forex manipulation, led by barrister Lord Grabiner, has come under fire for its thoroughness. The US Department of Justice, which is investigating numerous banks for their role in the scandal, has requested to interview a senior Royal Bank of Scotland employee,
Banks (Finance)
ICRA, a leading rating agency, has withdrawn the suspended rating of [ICRA]B+ (pronounced ICRA B plus) assigned to the Rs. 6.80 crore bank lines of Surya Construction Company. According to ICRA's policy, a rating can be withdrawn if it remains suspended for more than three years.
Banks (Finance)
Kailash Oil Cake Industries, a leading crushing and refining company in Gujarat, has had its long-term working capital facilities rating suspended by ICRA, due to the company's failure to provide requisite information. The suspension of ICRA's rating surveillance has raised concerns about the company's
Banks (Finance)
Electromech Material Handling Systems (India) Private Limited, a leading manufacturer of electric overhead travelling cranes, has seen a revision in its long-term rating from ICRA, a leading credit ratings agency. The revised rating, BBB+ (Stable), reflects the company's healthy operating performance in FY15, where it is expected to
Banks (Finance)
Win Pet & Polymers, a cash credit limits and term loan issuer, has had its ICRA B+ rating suspended following ICRA's inability to conduct a rating surveillance due to a lack of requisite information from the company. ICRA, a rating agency, typically conducts surveillance to monitor the issuer&
Banks (Finance)
Deutsche Asset & Wealth Management International GmbH, the investment advisor for several Deutsche Bank funds, has clarified that recent settlements involving the bank do not impact the performance of the funds or their ability to provide services. The settlements, worth $775 million in total, were reached to resolve allegations of
Banks (Finance)
The U.S. Department of Justice announced that Deutsche Bank AG and its subsidiary DB Group Services (UK) Limited have agreed to pay $775 million in criminal penalties for their role in manipulating the London Interbank Offered Rate (LIBOR), a leading benchmark interest rate used in financial products and transactions
