ICICI offers facility to Rs 10 cr CP Prog of STL

New Delhi, July 14 (UNI) ICICI Bank has offered an unconditional and irrevocable standby facility for the 90-day Rs 10 crore Commercial Paper (CP) programme of Shyam Telelink Ltd (STL).

The facility will remain in force as long as any tranche of the CP issued under this facility is outstanding, credit rating agency Fitch said.

ICICI Bank's domestic debt rating is adequate to support the rating of STL's CP programme, agency assumed.

Meanwhile, Fitch has assigned a national short-term rating of F1+ to the Rs 10 crore commercial paper (CP) programme of STL.

ICICI Bank's capital adequacy stood at 13.35 per cent while its net non-performing assets ratio was 0.71 per cent at the end of March 31, 2006.

UNI DKS VJ VC2007