Comments
Crisil on Friday retained ‘A1+’ rating on ₹15,000 crore commercial paper (CP) programme of DHFL, whose stocks have been under pressure due to concerns over default. Crisil has reaffirmed its credit ratings, DHFL said in a regulatory filing to stock exchanges.
The A1 rating instruments are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk, as per the definition by Crisil.
Earlier this week, DHFL said it proposes to reduce exposure to CP as part of overall borrowing plan and increase hedging activity, days after the shares of the company tumbled up to 42% on massive selling over fears of a liquidity crisis. The company expects liquidity to remain tight in second half with volatility in rates.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.