India Ratings and Research (Ind-Ra) has revised the credit rating of Religare Enterprises’ wholly owned material subsidiary company -- Religare Finvest (RFL). The rating agency has revised rating of RFL’s Lower Tier 2 sub-debt worth Rs 4 billion to ‘D’ from ‘C’. Besides, Ind-Ra has affirmed RFL’s Long-Term Issuer Rating at ‘D’. The ratings reflect RFL’s continued delays in debt servicing due to its stretched liquidity situation, along with a strained funding profile.
Religare Enterprises is one of India’s leading diversified financial services groups. It offers an integrated suite of financial services including asset management, life and health insurance, lending, broking, investment banking, and wealth management.
Company Name | CMP |
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Bajaj Finserv | 1595.95 |
Paul Merchants | 1032.05 |
Data Infrastructure | 100.00 |
IIFL Finance | 414.25 |
Embassy Office Parks | 366.60 |
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