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Indian Oil And Gas Sector- Upstream; Fall in under-recoveries could benefit PSU upstream players over the medium-term; clarity on gas price hike and resolution of other pending regulatory issues could be the key to revive investment sentiments        Indian Oil & Gas Sector- Refining & Marketing; Improved outlook for OMCs with softened crude oil prices, stable Rupee and fall in under recoveries        Indian Tyre Industry; Industry well poised to ride the next growth wave in the auto industry        Favourable base dampens WPI inflation to 58-month low 3.7% in August 2014 with a sharp correction in primary articles and fuel & power, and mild decline in core-WPI        Indian Automobile Industry; Automobile volumes across segments showing improved growth momentum        Contraction in consumer durables and capital goods dampen IIP growth to a weaker-than-expected 0.5% in July 2014        CPI inflation eases to 7.8% in August 2014 from 8.0% in July 2014, in line with expectations; core-CPI dips to series-low 6.9%        Indian Hotel Industry; Q1, 2014-15-Industry numbers remain weak        Indian Life Insurance Industry; Outlook and Performance Review; Industry recovering well from regulatory changes, likely to grow at 10% in FY2015; Structural Growth drivers continue to provide ample scope        Indian General Insurance Industry; Outlook and Performance Review; Reversal in declining growth in General Insurance industry closely linked to economic recovery of the country; improvement in profitability continues       
 
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Indian Oil And Gas Sector- Upstream; Fall in under-recoveries could benefit PSU upstream players over the medium-term; clarity on gas price hike and resolution of other pending regulatory issues could be the key to revive investment sentiments
Indian Tyre Industry; Industry well poised to ride the next growth wave in the auto industry
Contraction in consumer durables and capital goods dampen IIP growth to a weaker-than-expected 0.5% in July 2014
CPI inflation eases to 7.8% in August 2014 from 8.0% in July 2014, in line with expectations; core-CPI dips to series-low 6.9%
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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.