Date:12/07/2007 URL: http://www.thehindubusinessline.com/2007/07/12/stories/2007071251151500.htm

Back Crisil assigns ‘AAAf’ to SBI Mutual’s FMPs

Our Bureau

Kolkata, July 11

Crisil has assigned its first-ever ratings in India for long-term fixed maturity plans (FMPs). Ratings of ‘AAAf’ have been assigned to nine long-term FMPs proposed to be launched under the SBI Debt Fund Series.

The rating agency has also assigned ‘P1+f’ ratings to 18 short-term FMPs under the same series. The ratings indicate that SBI Debt Fund Series’ proposed portfolio holdings provide very strong protection against losses from credit default.

The ratings are not an opinion on SBI MF’s willingness or ability to make timely payments to investors. These are also not an opinion on the stability of the net asset values (NAVs), since these could vary with developments in the market, a note issued by Crisil has mentioned.