India8217;s Core Education shares fall on S038;P action

8220;We believe the drop in share price may negatively affect Core8217;s reputation and could limit the company8217;s access to funding and liquidity through banks and the capital markets,8221; Samp;P said.

Samp;P added that Core8217;s negative free operating cash flow would also increase dependence on additional borrowing,8221;underscoring the importance of good and steady access to funding.8221;

Core Education slumped 78 percent last week on fears that shares held by high net worth individuals were being heavily sold because of margin funding issues.