On 18th April, CARE Ratings downgraded Reliance Capital debt worth ₹21,000 crore from CARE A+ to CARE A. On 19th April, Brickwork Ratings followed suit. It downgraded Reliance Capital debt worth ₹14,100 crore from from BWR AA to BWR A+. The company cited “deterioration in liquidity profile of the group due to challenges faced by Reliance Capital and its key lending subsidiaries, Reliance Commercial Finance Limited (RCFL) and Reliance Home Finance Limited (RHFL) to raise funds through traditional bank lines and debt market instruments."
Can the defence sector continue firing after 100% gains?
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