Top rating for Exim bonds
Credit rating agency Icra has assigned the highest safety rating of LAAA to the Rs 2,000-crore bond issue of Exim Bank. The rating has been assigned to the enhanced amount of Rs 2,000 crore from the earlier proposed Rs 1,000 crore, an Icra release said. It also reaffirmed highest safety rating to outstanding bonds of the bank. Icra considered Exim Bank’s high capital adequacy ratio, apart from comfortable liquidity and sovereign ownership, for the rating. In another exercise, Icra reaffirmed the high safety rating of MAA to the Rs 37.72-crore non-convertible debenture issue and highest safety rating of A1+ to the Rs 50-crore commercial paper programme of SKF Bearings.
Adlabs India Ltd has acquired 100 per cent stake in Entertainment One India Pvt Ltd, making the latter a fully-owned subsidiary. Following acquisition, Adlabs plans to carry on film production, financing and film related activities through this subsidiary, the company informed the Bombay Stock Exchange.
Bose Corporation has launched its Lifestyle systems — the Bose Lifestyle 28 and the Bose Lifestyle 35. The new systems are DVD based systems and incorporate the new Bose Adaptiq audio calibration system.
Hitachi Data Systems Corporation and Network Appliance have signed an agreement to market and sell enterprise NAS solutions. Under the terms of the agreement, Hitachi Data will offer NetApp enterprise NAS gateway solutions for Hitachi Freedom Storage environments managed by HiCommand Management Framework tools.
Indo Rama has expanded its polyster staple fibre production capacity from 300, 000 tonnes per annum (tpa) of polyster to around 500, 000 tpa at its Butibori plant in Nagpur. The expansion, to be executed in partnership with Zimmer AG, Germany, will entail the installation of a continuous polycondensation plant.
Kinetic Nova has been chosen as the ‘scooter of the year 2002’ by Business Standard Motoring. Kinetic Engineering is also planning to export Nova to Europe, USA and Australia.
A Ramco Systems led consortium comprising Hewitt Associates and The Boston group has won an order from the Andhra Pradesh government for development, implementation and roll out of Human Resources Management solutions.
HCL Frontline, the distribution arm of HCL Infosystems has appointed Tech Pacific (India) Limited as a sub-distributor for its Toshiba notebook PC business.
Fitch Ratings India has affirmed the rating on the Rs 15-crore non-convertible debenture programme of Malana Power Company Limited. The outlook on the rating is positive.