Bankers are jittery over Patanjali Ayurved’s repayment, funding capacity of a fresh Rs 4,000-crore loan sought for Ruchi Soya acquisition after a rating firm downgraded Patanjali’s debt saying there is no corporate guarantee offered by the parent firm for the loan.
Within days of the downgrade on October 17, Care, the rating firm, withdrew the ratings after a request by the company and a no-objection certificate was issued by the banks. According to a banking source, the downgrade has raised questions about the viability of repayment of the loan. “The existing ...
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