 "IL&FS, Infrastructure Leasing and Financial Services, Mumbai")
Rating agency ICRA has downgraded rating for various group companies of IL&FS, showing cascading effect of liquidity pressure and leverage faced by group holding company and power sector entity.
The rating action follows the significant weakening of the financial risk profile of the parent company-IL&FS Energy Development Company Ltd (IEDCL) and the ultimate holding company Infrastructure Leasing & Financial Services Ltd (IL&FS).
ICRA has downgraded the long term rating for nonconvertible debentures of IL&FS Solar Power Ltd from "A_"- (SO)" to "BBB(S0)". SO stands for the Structured obligations on parent to pay.
ICRA also reassigned the longterm rating for debentures of IL&FS Wind
