American credit rating agency visits Western Marine Shipyard
Monday, 25 April 2011
Our Correspondent
CHITTAGONG, Apr 24: Senior directors of the Standard & Poor's (S&P), an internationally recognised American credit rating agency (CRA), have visited the Western Marine Shipyard, one of the leading shipbuilding yards of the country, in Chittagong. It is one of the several CRAs that have been designated a Nationally Recognised Statistical Rating Organisation, by the US Securities and Exchange Commission. S&P has been nationally invited to Bangladesh by the central bank for the purpose of credit rating of Bangladesh's banking sector as a whole. As a matter of national interest the Western Marine has been chosen for industrial visit for this sovereign credit rating review visit of Standard & Poor's. The major intention of this visit was to present the emerging industrial activity to the high officials of the CRA by showing them the huge volume of heavy tech and hi-tech works in Western Marine. Kim Eng Tan and Agost Benard, senior director and associate director respectively of the S&P made the visit representing their CRA. They were accompanied by Bangladesh Bank joint director Dipankar Bhattacharya and deputy directors Mesbah Uddin and Shakil Ezaz. High officials of Standard Chartered Bank and HSBC bank in Bangladesh were present. The team was pleased to see the volume of foreign ship building orders that the Western Marine holds currently and the contribution of this industry in foreign exchange earning of Bangladesh. Western Marine Shipyard chairman Saiful Alam hoped this visit has made a positive impression for the S&P which will be credit rating the banking sector of Bangladesh. He said that this will also solve many complications that the shipbuilders are facing due to poor rating of Bangladesh in the global market.
CHITTAGONG, Apr 24: Senior directors of the Standard & Poor's (S&P), an internationally recognised American credit rating agency (CRA), have visited the Western Marine Shipyard, one of the leading shipbuilding yards of the country, in Chittagong. It is one of the several CRAs that have been designated a Nationally Recognised Statistical Rating Organisation, by the US Securities and Exchange Commission. S&P has been nationally invited to Bangladesh by the central bank for the purpose of credit rating of Bangladesh's banking sector as a whole. As a matter of national interest the Western Marine has been chosen for industrial visit for this sovereign credit rating review visit of Standard & Poor's. The major intention of this visit was to present the emerging industrial activity to the high officials of the CRA by showing them the huge volume of heavy tech and hi-tech works in Western Marine. Kim Eng Tan and Agost Benard, senior director and associate director respectively of the S&P made the visit representing their CRA. They were accompanied by Bangladesh Bank joint director Dipankar Bhattacharya and deputy directors Mesbah Uddin and Shakil Ezaz. High officials of Standard Chartered Bank and HSBC bank in Bangladesh were present. The team was pleased to see the volume of foreign ship building orders that the Western Marine holds currently and the contribution of this industry in foreign exchange earning of Bangladesh. Western Marine Shipyard chairman Saiful Alam hoped this visit has made a positive impression for the S&P which will be credit rating the banking sector of Bangladesh. He said that this will also solve many complications that the shipbuilders are facing due to poor rating of Bangladesh in the global market.