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Indian Gold Jewellery Retail Industry; Industry Survey        Indian Oil & Gas Sector- Refining & Marketing; Improved outlook for OMCs with softened crude oil prices, diesel price deregulation and anticipated implementation of MDBTL scheme        Indian Mining and Construction Equipment Industry – Trends and Outlook        Indian Fertiliser Sector: December 2014 update; Movement forward on policy front: Domestic Gas Price Hike and Amended Investment Policy for Urea        Indian Ports Sector: December 2014; Cargo volume growth improves in 7MFY15, but continues to be suppressed on account of loss of iron ore volumes; Notification on partial deregulation of tariffs at major ports delayed        Indian Oil and Gas Sector- Upstream; Recent gas price formula a marginal positive for the upstream sector; clarity on premium for complex offshore fields and direction of crude oil prices would drive the sentiments        Power Sector: Positive measures being initiated by Central Government, though uncertainty over the implementation of tariff compensation continues        WPI stagnates in y-o-y terms in November 2014, with falling prices of commodities and perishable food items, as well as favourable base effect        CPI inflation eases to series-low 4.4% in November 2014, in line with expectations        Sharp contraction in manufacturing leads to an unexpected IIP de-growth of 4.2% in October 2014       
 
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Indian Gold Jewellery Retail Industry; Industry Survey
Indian Mining and Construction Equipment Industry – Trends and Outlook
Indian Fertiliser Sector: December 2014 update; Movement forward on policy front: Domestic Gas Price Hike and Amended Investment Policy for Urea
Indian Oil & Gas Sector- Refining & Marketing; Improved outlook for OMCs with softened crude oil prices, diesel price deregulation and anticipated implementation of MDBTL scheme
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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.