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Monday, December 6, 2010
LIC Housing continues to retain highest Crisil rating!
Crisil has reaffirmed its highest rating AAA for LIC-HFL despite the arrest of its CEO on bribery charges. The reason for this affirmation comes more from the fact of LIC of INDIA the largest life insurance company being the single most largest share holder in LIC-HFL! LIC of INDIA owns 36.54% of LIC-HFL's shares. Crisil based its decision on LIC's commitment that it will not allow its shareholding in LIC Housing to fall below 33 per cent. Meanwhile the 8 people who were accused in the bribery cases including Mr. RR Nair (Ex. CEO - LIC-HFL)have been given bail now!
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