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Higher food and fuel inflation push up CPI to 8.3% in March 2014; mild decline in core inflation to 7.8% in Feb-March 2014 from 8.1% in previous two months offers limited consolation        Higher-than-expected uptick in food and fuel inflation pushes WPI to three-month high 5.7% in March 2014        Weak performance of capital and consumer goods results in 1.9% contraction of the Index of Industrial Production in Feb 2014, despite pick up in core sector growth        Indian Commercial Vehicle Industry; Initial signs of stability but demand recovery still few quarters away        Indian Construction Sector; No respite from execution challenges; pressures expected to continue over medium term        Indian Oil And Gas Sector- Upstream; Kelkar committee opposes revenue sharing model and recommends continuing with PSC mechanism with certain adjustments        RBI maintains Repo rate at 8% with easing of CPI; signals end to tightening if inflation follows glide path        Indian Passenger Vehicle Industry: Trends & Outlook        Indian Banking Sector; Basel III Norms Extension Provides Short Term Breather to Public Sector Bank        Indian Two-Wheeler Industry; Searching for exports-driven growth, but challenges galore       
 
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Higher food and fuel inflation push up CPI to 8.3% in March 2014; mild decline in core inflation to 7.8% in Feb-March 2014 from 8.1% in previous two months offers limited consolation
Higher-than-expected uptick in food and fuel inflation pushes WPI to three-month high 5.7% in March 2014
Weak performance of capital and consumer goods results in 1.9% contraction of the Index of Industrial Production in Feb 2014, despite pick up in core sector growth
Indian Commercial Vehicle Industry; Initial signs of stability but demand recovery still few quarters away
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  RATINGS SCALE FOR ISSUERS IN NEPAL

Background

ICRA has set up a joint venture in Nepal to replicate some of its rating businesses there. The company signed a Memorandum of Understanding with Himalayan Infrastructure Fund Limited (HIFL) of Nepal at Kathmandu on Monday. ICRA is holding the majority stake in the joint venture.

ICRA also announced the setting up of a representative office in the Nepalese capital and appointed Deepak Kafle as resident director to oversee its overseas operations there.


Rating Symbols for Issuers / Instruments in Nepal

The rating for issuers / instruments in Nepal is assigned on an eight-point scale developed specifically for that country, and ranges from ‘[Nepal] AAA’ to ‘[Nepal] D’. This rating scale ranks the relative default risk associated with issuers in Nepal.

ICRA Rating symbols for issuers / instruments in Nepal and their implications are as follows

[Nepal] AAA The highest-credit-quality rating relative to other domestic issuers

[Nepal] AA The high-credit-rating quality rating relative to other domestic issuers

[Nepal] A The adequate-credit-quality rating relative to other domestic issuers

[Nepal] BBB The moderate-credit- quality rating relative to other domestic issuers

[Nepal] BB The inadequate-credit-quality rating relative to other domestic issuers

[Nepal] B The risk-prone-credit-quality rating relative to other domestic issuers

[Nepal] C The poor-credit-quality rating relative to other domestic issuers

[Nepal] D The lowest-credit-quality rating relative to other domestic issuers

Note For the rating categories AA through to C, the sign of + (plus) or – ( minus) may be appended to the rating symbols to indicate their relative position within the rating categories concerned. Thus, the rating of AA+ is one notch higher that AA, while AA- is one notch lower than AA.