 "DHFL")
Rating agency CARE Ratings has downgraded rating for Dewan Housing Finance Ltd's (DHFL) debentures from "A" to "BBB-" on delay in announcement of strategic investor as a part of reorganisation of the company.
The revision in the long-term ratings of DHFL takes into account delays in announcement of strategic investor. Rating agency had earlier held discussion with the management and had expected the announcement to be done before end of April 2019.
During the last review, DHFL had indicated that it would reorganize its businesses by induction of strategic investor for the retail home loans and other similar asset classes. It was
