SME Times is powered by   
Search News
Just in:   • Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia  • Europe facing earlier, stronger heatwaves: Climate scientist  • India and Namibia sign two MOUs in fields of health and entrepreneurship  • PM Modi arrives in Delhi after concluding 'productive and successful' 5-nation tour  • ASEAN to keep on consensus, inclusivity: Malaysian official 
Last updated: 22 Nov, 2020  

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

SREI.9.jpg
   Top Stories
» Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia
» Piyush Goyal holds talks with Malaysian minister on review of ASEAN trade pact
» India and OPEC have a unique and symbiotic relationship: Hardeep Puri
» SIP inflows hit all-time high in June, total AUM for equity MF at Rs 74.41 lakh crore
» India set to explore over 2.5 lakh sq kms area in one of largest offshore energy efforts
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 :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter