MUMBAI, Aug 6: The Credit Analysis & Research Ltd (Care) has downgraded the fixed deposit programmes of Nagarjuna Finance and Prudential Capital Markets. The rating agency has also downgraded the Rs 15 crore non-convertible debenture programme of DCL Polyesters Ltd.While Care has downgraded Nagarjuna Finance's FD programme to CARE A (FD) from CARE A+ (FD), it has downgraded Prudential Capital Markets from Care BBB (FD) to CARE BB (FD) for its FD programme up to Rs 100 crore.The revised rating of Prudential Capital Markets suggests that the instrument is speculative with inadequate protection for interest and principal payments. The earlier rating given to Prudential was placed under credit watch by Care.
