MUMBAI: International rating agency Moody's Investors Service has placed the ratings on IIFL Finance and Hero FinCorp under review, while downgraded the outlook on Muthoot Finance ratings to negative from stable. The agency also retained the rating on Muthoot Finance but downgraded outlook to negative from stable.
It said the rating on India Infoline Finance's corporate family rating, foreign and local currency debt and its senior secured MTN programme ratings, and also senior unsecured debt rating are placed under review for downgrade.
Biggest lockdown may have cost Rs 7-8 lakh cr to Indian economy Domestic non-banking financial companies (NBFCs) have been affected given disruptions to economic activity from the coronavirus outbreak, which will weaken their credit profiles.
