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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?


To: Mohan Marette who wrote (5121)7/14/1999 10:29:00 AM
From: Mohan Marette  Read Replies (1) | Respond to of 12475
 
Crisil downgrades Essar Oil debt issues

Essar Oil Homepage: essar.com

Date: 7/14/99 1:22:27 PM

Crisil has downgraded Essar Oil Ltd's Rs5.65bn and Rs2bn non-convertible debentures to ā€œDā€ (indicating default) from ā€œC' (indicating substantial risk). The revised rating indicates that the company has defaulted on the rated instrument as a significant portion of the refinery project remains untied.