April 30, 2019 / 5:41 AM / 3 months ago

BUZZ-India's Reliance Home Finance drops after credit rating cuts

** Reliance Home Finance Ltd’s shares slump as much as 20 pct - worst day since Sept 21

** CARE Ratings downgrades here.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 here 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

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