• SENSEX
    NIFTY 50
Business

Baba Ramdev’s Patanjali downgraded on Ruchi Soya acquisition risks

Updated : October 07, 2019 08:06 AM IST

Care Ratings has downgraded Patanjali Ayurved Limited’s (PAL) rating on account of it creating a special purpose vehicle for the purchase of Ruchi Soya and the loans and advances that the firm has given out to its various group entities.
The long-term facilities of PAL, co-founded by yoga guru and entrepreneur Baba Ramdev, have been downgraded from A+ to A-, while its short-term facilities will now carry a rating of A2+ from A1 earlier.
Ratings downgrade for an FMCG firm is pretty rare and the action on Patanjali is another indication of the continued slowdown in the economy.
Baba Ramdev’s Patanjali downgraded on Ruchi Soya acquisition risks

You May Also Like

Live TV

recommended for you

Advertisement