RelianceNSE 1.49 % Mutual Fund (RMF) said late on Sunday it was writing down the value of its holdings in Reliance Commercial FinanceNSE -2.29 % (RCFL) and Reliance Home Finance (RHFL) consequent to the rating downgrade of the non-banking finance companies their group.
The company said it has exposure of Rs 535 crore and Rs 1,083 crore to long-term non-convertible debentures (NCDs) issued by RCFL and RHFL, respectively, and these were held in around 10 per cent of RMF’s total 166 fixed ..