SME Times is powered by   
Search News
Just in:   • Exports fall by over 9 pc YoY in Nov  • Bharti Airtel arm picks up 4.9% stake more in Bharti Infratel  • Engineering exporters seek easier GST refund rules at BoT meet  • Centre to incubate electronics startups opened in K'taka  • Samsung tops global smartphone production in Q3: Report 
Last updated: 22 Nov, 2020  

SREI.9.Thmb.jpg Brickwork downgrades rating of SREI Infra's perpetual debt instrument

   Top Stories
» Exports fall by over 9 pc YoY in Nov
» Engineering exporters seek easier GST refund rules at BoT meet
» RBI commences MPC meet on Wednesday
» 'Corporate India gradually reverting to normalcy'
» Manufacturing sector loses growth momentum in November
SME Times News Bureau | 22 Nov, 2020
Brickwork Ratings India Pvt Ltd has downgraded the ratings for SREI Infrastructure Finance's perpetual debt instrument aggregating to Rs 10 crore.

It has also placed the ratings under credit watch with negative implications.

"Brickwork Ratings India Pvt Ltd (Brickwork) has revised the ratings for Perpetual Debt Instrument aggregating to Rs 10 crore of the company," SREI Infrastructure Finance said in a regulatory filing on Sunday.

In a statement, Brickwork Ratings said that it has downgraded the "long-term ratings of the company on the innovative perpetual debt instrument to 'BWR BB' from 'BWR BBB-/Negative' while placing the ratings under credit watch with negative implications".

It said that the rating downgrade is mainly driven by continued stress on asset quality in the equipment and infrastructure financing loan portfolios, significant decline in profitability and stretched liquidity position of the company on account of low collections.

"BWR has also taken note that the company has restructured the coupon payments of perpetual debt instruments by taking the consent of the investors prior to the due date in line with RBI guidelines," it said.

On Friday, SREI Infrastructure Finance had informed the exchanges that a special audit of the company and its subsidiary, Srei Equipment Finance Ltd is being undertaken by an auditor appointed by the Reserve Bank of India (RBI).

Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 03 Dec, 2020
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(1)
» MSME registration(1)
» MSME schemes - Do you know all of them?(1)
» Biodiesel is the fuel of future: Santosh Verma(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter