Brief: ICRA downgrades credit ratings on Shapoorji Pallonji's Forbes
10/12/2019 11:52
Dec 10 (Reuters) - Forbes & Company Ltd FBGX.BO :
* ICRA DOWNGRADES RATINGS FOR CO'S LONG, SHORT-TERM FUND,
NON-FUND
BASED LIMITS, UNALLOCATED LIMITS AND COMMERCIAL PAPER
* ICRA DOWNGRADES RATING TO ICRA BBB+(NEGATIVE) AND
ICRA A2
* ICRA SAYS DOWNGRADE REFLECTS WEAKENING FINANCIAL PROFILE
OF
PARENT SHAPOORJI PALLONJI AND CO, CONTINUED WEAK RESULTS AT
FORBES
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