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Tag Archives: ICRA

Fitch downgrades RCom’s long-term foreign, local currency ratings

Fitch Ratings has downgraded Reliance Communications’ (RCom’s) long-term foreign- and local-currency ratings to ‘CCC’ from ‘B+’, and its $300 million 6.5 per cent senior secured notes due 2020 to ‘CCC/RR4’ from ‘B+/RR4’. The downgrade comes amid growing concern that RCom will struggle to pay its hefty debts. Moody’s Investors Service ... Read More »

ICRA downgrades rating of IDBI Bank’s debt instruments

Credit rating agency ICRA has downgraded various debt instruments of state-run IDBI Bank on the back of weak profitability and deteriorating asset quality, which have resulted in erosion of its capital. The agency has also kept the lender’s ratings under watch with negative implications. The rating downgrade takes into account ... Read More »

IFCI gets nod to divest entire stake in TFCI

IFCI has received an approval for divestment of its entire stake in Tourism Finance Corporation of India (TFCI), comprising 210,59,929 equity shares i.e. 26.09% stake in TFCI, as part of its disinvestments of its non-core assets. The board of directors at its meeting held on May 19, 2017 has approved ... Read More »

Reliance Communications informs about credit rating

Reliance Communications has informed about ICRA has revised the Long Term rating of the Company from BBB to BB with negative outlook and Short-Term rating on Fund Based / Non Fund Based Limits and Commercial Papers of the Company from A3+ to A4. The above information is a part of ... Read More »

Muthoot Finance to raise Rs 2,000 crore via NCDs

Muthoot Finance is planning to raise Rs 2,000 crore through issue of non-convertible debentures (NCDs). The company has filed a shelf prospectus for the issue of secured redeemable non-convertible debentures of face value of Rs 1,000 each aggregating up to Rs 1,950 crore and unsecured redeemable non-convertible debentures of face ... Read More »