Rating agencies put PTC India Financial Services under watch; Stock trades flat

3 Feb 2022 , 09:55 AM

PTC India Financial Services Ltd (PFS) shared the rating update from credit rating agencies ICRA and CRISIL on Wednesday. ICRA has revised ICRA A+ rating on Non‐Convertible Debenture (NCD) and placed it on rating watch with negative implications from ICRA A+ (Stable).

CRISIL has assigned CRISIL A+/Watch Developing from CRISIL A+ (Stable) to the NCD issue of the company.

The Fund-based‐ Term Loan rating of the company has been updated ICRA A+ (placed on rating watch with negative implications) from ICRA A+ (Stable). CRISIL has given CRISIL A+/Watch rating from CRISIL A+ (Stable).

ICRA placed Fund based— Short Term rating at ICRA A1+ (placed on rating watch with negative implications) from ICRA A1+.

ICRA updated rating on Commercial Paper at ICRA A1+; placed on rating watch with negative implications from ICRA A1+. CRISIL gave CRISIL A1+/Watch Developing rating on commercial paper from CRISIL A1+.

PFS is a non‐banking finance company promoted by PTC India Limited. PFS has been granted the status of an Infrastructure Finance Company (IFC) by the Reserve Bank of India. The Company offers an array of financial products to  infrastructure companies in the entire energy value chain and other  infrastructure industries. PFS also provides fee based services viz loan syndication and underwriting etc.

At around 9.58 am, PTC India Financial Services Ltd was trading flat at Rs19.15 per share on the BSE.