• SENSEX
    NIFTY 50
Bonds

ICRA downgrades rating of IDFC First Bank's bond programme

Updated : May 22, 2019 06:24 AM IST

The rating agency downgraded Rs 38,670 crore of non-convertible debentures (NCDs) to AA from AA+ with a stable outlook.
The downgrade considers the bank's weak earnings profile, given the elevated cost-to-income ratio because of the ongoing branch expansion, which has been pressurising the operating profitability, and an increase in credit provisions on account of unanticipated fresh stressed exposures identified by it in Q4 FY19, the agency said.
ICRA downgrades rating of IDFC First Bank's bond programme
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

You May Also Like

Live TV