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ICRA reaffirms credit ratings on IFCI debt instruments; Stocks up 2%

Commercial Paper Programme has been reaffirmed to [ICRA] A3.

June 28, 2021 2:25 IST | India Infoline News Service
IFCI
Rating Agency, ICRA Limited has re-affirmed the ratings of debt instruments of IFCI Limited. 

Fund-based bank limits has been reaffirmed to [ICRA] BBB- with negative outlook along with Long term bonds and NCDs.

Commercial Paper Programme has been reaffirmed to [ICRA] A3.

The ratings reaffirmation continues to be supported by IFCI’s sovereign ownership with periodic capital infusions by the Government of India (GoI) and a budgeted capital infusion of another Rs200cr for FY2021.

"The Negative outlook continues to reflect ICRA’s expectations of increasing liquidity pressure, which could emerge over the next one year, if the planned divestments and NPA recoveries do not materialise, given the sizeable repayment obligations", according to the rationale report.

IFCI was trading at Rs15.02 apiece higher by 2.31% on Sensex, at around 2:25 PM. 

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PRESTIGE (NSE)

The average score for Prestige Estates Projects Limited stands at 4 against 6, three months back.

Prestige Estates Projects Limited is engaged in the business of real estate development. The Company’s principal products/services include Development and construction

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