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| Exchange Received Time 02/07/2019 21:58:54 Exchange Disseminated Time 02/07/2019 21:58:58 Time Taken 00:00:04 | We inform that CARE has revised rating for NCDs of Rs.400 cr issued on private placement basis to D.CARE has stated this action is primarily due to rescheduling of NCDs.
The extension of maturity has been done with the consent of Debenture Trustee & NCDHolder.Extension of maturities by mutual consent is a recognised global practice to deal with severe dislocations in capital markets,and does not in any sense constitute a default. The rating of other NCDs issued by the Company remains unchanged.
The Company considers the above rating action untimely and uncalled for action.There has not been any adverse change in the Company's operational parameters from the time of the last rating actions.
Liquidity has been a concern for the entire sector as lenders have virtually stopped funding to HFCs.RHF has AUM of Rs.18,288 cr as on Dec 31.We have been securitizing the assets from time to time to meet the liquidity requirements of the Company. |
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