HDIL loses 20 percent, asks CARE to review downgrade
MUMBAI (Reuters) - Housing Development and Infrastructure Ltd (HDIL)(HDIL.NS) said on Wednesday it had asked a local credit agency to review a ratings downgrade that had sent its shares tumbling.
Credit Analysis and Research Ltd (CARE) (CREI.NS) downgraded HDIL's debt ratings in a report dated Wednesday, citing "ongoing delays in servicing" some debt obligations.
"The company has not accepted the said rating assigned by CARE and would like to reiterate the company's strong financial and operational performance and sound fundamentals," HDIL said in a statement.
The real estate developer did not mention its debt repayments.
Shares in HDIL ended down 20 percent at 48.65 rupees.
(Reporting by Aditi Shah; Editing by Miral Fahmy)
- Tweet this
- Share this
- Digg this
- Exit polls see gains for BJP in state elections
- Trade deal seen 'very close', India makes WTO sweat
- Study casts doubt on whether extra vitamin D prevents disease
- Delhi's rubble-strewn Connaught Place mirrors Congress' election struggle
- U.S. television, Twitter, alive with new version of 'Sound of Music'
Ministers from nearly 160 member countries of the World Trade Organisation entered a final day of negotiations on Friday with officials sounding optimistic over chances of salvaging a deal that would save the trade body from sliding into irrelevance. Full Article