MUMBAI, July 29: The Credit Rating Information Services of India Ltd Crisil has downgraded the Rs 126 crore non-convertible debenture NCD programme of Sundaram Finance Ltd from triple-A8217; to double-A8217;.
It has, however, retained the triple-A8217; rating assigned to the non-banking finance company8217;s fixed deposit programme and the P18217; rating assigned to its Rs 150 crore commercial paper programme. The rating factors in the difficult business situation faced by NBFCs.
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