{"id":613966,"date":"2023-11-01T09:07:03","date_gmt":"2023-11-01T03:37:03","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=613966"},"modified":"2023-11-01T09:54:21","modified_gmt":"2023-11-01T04:24:21","slug":"crisil-downgrades-rating-on-ptc-fin-services-non-convertible-debentures","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/crisil-downgrades-rating-on-ptc-fin-services-non-convertible-debentures\/","title":{"rendered":"CRISIL downgrades rating on PTC Fin Services&#8217; non-convertible debentures"},"content":{"rendered":"<p>The rating agency, CRISIL Ratings, has downgraded the rating on PTC India Financial Services Ltd\u2019s (PFS) long-term bank facilities and non-convertible debentures from \u201cA+\u201d to \u201cA\u201d. The action reflects the continued delay in incremental fundraising, which led to PFS limiting its lending activity and operations. The outlook on these instruments remains &#8220;negative&#8221;. <\/p>\n<p>The Delhi-based finance company did not make any substantial disbursements during May-September 2023 due to a lack of fresh funding. Challenges in raising funds are primarily attributable to corporate governance concerns raised earlier by independent directors, CRISIL said in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The rating agency, CRISIL Ratings, has downgraded the rating on PTC India Financial Services Ltd\u2019s (PFS) long-term bank facilities and non-convertible debentures from \u201cA+\u201d to \u201cA\u201d. The action reflects the continued delay in incremental fundraising, which led to PFS limiting its lending activity and operations. The outlook on these instruments remains &#8220;negative&#8221;. The Delhi-based finance company did not make any substantial disbursements during May-September 2023 due to a lack of fresh funding. Challenges in raising funds are primarily attributable to corporate governance concerns raised earlier by independent directors, CRISIL said in a statement.<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-613966","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/613966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=613966"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/613966\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=613966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=613966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=613966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}