Investment Trust FDs put on ICRA watch
By Our Banking Bureau | 04 May 2002
1
Mumbai:
The Investment
Information and Credit Rating Agency (ICRA) has placed the MA-
rating assigned to the fixed deposit programme of the Investment
Trust of India (ITI) on watch, with developing implications. The
rating indicates adequate safety, said an ICRA news release.
ITI
has entered into a memorandum of understanding with Franklin
Templeton investments for the sale of its 47.5-per cent stake in
Pioneer ITI AMC. The sale is subject to a due diligence exercise,
which is expected to take about three months.
