DHFL Stock sinks 12pc on ratings downgrade

Shares of housing finance major Dewan HousingFinance Corpn Ltd (DHFL) were in negative territory during the mid-morning session on Thursday,  slipping over 12percent  after Credit rating agencies downgraded its commercial paper to default, citing delay in interest payment of Nonā€Convertible Debentures (NCDs).

Credit rating agency CRISIL, CareRatings and ICRA downgraded the rating on the commercial paper of DHFL to D from A4plus, citing delays in debt servicing, as the Company missed its interest payments time limit on Tuesday.

However, DHFL has refuted the action of the Credit rating agencies has surprising & unwarranted that DHFL is making all efforts to make certain that there is no defaults on any bonds or repayment of financial obligations.

At 11.10am, the stock of DHFL was trading at Rs.97.70, down by Rs.14.05 or 12.57pc  on the NSE.  Meanwhile, NSE Niifty50 traded lower by 59pts at 11962-level and the BSE Sensex down by 131pts at 39952-levels.

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