March 7, 2019 / 4:19 AM / in 19 days

BUZZ-India's Dewan Housing falls; CARE revises long-term ratings

** Shares of home loan provider Dewan Housing Finance Corp Ltd (DHFL) fall as much as 4.9 pct to 141.5 rupees

** Ratings agency CARE Ratings revise here.-03-06-2019.pdfs some of co's long-term ratings

** Revision takes into account moderation in financial flexibility due to limited progress of strategic measures and inflows, CARE says

** Though current cash and liquid investments are sufficient to bridge the negative mismatches for next two to three months, any acceleration of debt obligations by lenders and/or any higher than anticipated withdrawal of deposits, may put further stress on the liquidity profile of the company - CARE

** Revision comes after co’s shares surged on Wednesday, following an auditor’s report which dismissed media allegations that DHFL created shell companies to divert funds, but said the firm’s monitoring of loans was inadequate

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