|
|
Article: ICRA assigns LAA- rating to Tide Water Oil's bank limits.
- Article from:
- ADP Debt News
- Article date:
- September 4, 2009
CopyrightCOPYRIGHT 2009 Aii Data Processing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
(ADPnews) - Sep 4, 2009 - ICRA gave today an LAA- rating to the INR 300 million (USD 6.1m/EUR 4.3m) fund-based facilities of Indian lubricants producer and trader Tide Water Oil Co (India) Ltd (BOM:590005), or TWO.
The agency also assigned an A1+ rating to the company's INR 500 million non-fund based limits.
The ratings, suggesting high and highest credit quality, respectively, reflect TWO's long-established track record of more than eight decades in the business of lubricating oils, modest brand equity for the Veedol brand and technical collaboration with Japan's Nippon Oil Corp (TYO:5001) for the manufacture ...