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Shares of all three listed companies of IL&FS have hit their respective 52-week lows on the BSE, falling by up to 15% in intra-day trade after rating agency ICRA on Sunday downgraded loans and debentures of infrastructure financing firm.
“Rating agency ICRA has effected a multi-notch rating downgrade for IL&FS, which is facing liquidity pressure and overleveraged. Its loans and debentures now carry “BB” (junk or non-investment status) as against the previous rating of "AA+". Also, the commercial paper carries "A4" rating against the previous rating of "A1+",” Business Standard reported.
IL&FS Transportation Networks (ITNL) has slipped 15%
“Rating agency ICRA has effected a multi-notch rating downgrade for IL&FS, which is facing liquidity pressure and overleveraged. Its loans and debentures now carry “BB” (junk or non-investment status) as against the previous rating of "AA+". Also, the commercial paper carries "A4" rating against the previous rating of "A1+",” Business Standard reported.
IL&FS Transportation Networks (ITNL) has slipped 15%
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