ICRA is working on addressing issues pertaining to credit rating of crisis-hit IL&FS and its subsidiaries and has sought help from external experts in the matter.
“The company is in the process of addressing certain matters related to credit rating assigned to one of its customer and its subsidiaries, and an anonymous representation,” ICRA said in a regulatory filing on quarterly earnings announced Thursday.
In an investor communication in December, ICRA had informed about receiving a notice from market regulator Sebi for conduct of adjudication proceedings in relation credit ratings assigned to Infrastructure Leasing & Financial Services (IL&FS) and one of its subsidiaries — IL&FS Financial Services.
