India's CRISIL downgrades Escorts' long-term debt


BOMBAY, Aug 26 (Reuters) - The Credit Rating and Information Services of India Ltd (CRISIL) downgraded on Monday the long-term debt rating of Escorts Ltd [ESCO.BO], the country's third-largest tractor maker, to A- from A. The new rating reflects a lower standing within the "adequate safety" grade. CRISIL said in a statement the downgrade reflected the possibility that the company might have to increase investments in the Escorts group's telecom business. The company's tractor business ...

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