India's Reliance Home Finance drops after credit rating cuts
30/04/2019 06:38
** Reliance Home Finance Ltd's shares RILC.NS slump as
much as 20 pct - worst day since Sept 21
** CARE Ratings downgrades http://www.careratings.com/upload/CompanyFiles/PR/Reliance%20Home%20Finance%20Limited-04-26-2019.pdf
co's long-term debt programme, market-linked debt, NCDs to 'C'
and long-term debt programme of banking facilities to 'D'
** ICRA revises https://www.icra.in/Rationale/ShowRationaleReport/?Id=79890
rating to 'A4' from 'A2' for co's short-term debt programme,
citing slow pace of monetisation of non-core investments
(non-financial services businesses), and consequently no
improvement in liquidity
** Liquidity profile of the group continues to be under
stress on account of delay in raising funds from the asset
monetization plan and impending debt payments - CARE Ratings
((Derek.francis@tr.com))
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