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CARE places PNB HFC rating on watch, flags rising share of corporate loans

The action is triggered by the increasing share of the corporate loan book in PNBHFL's total loan portfolio and the consequent vulnerability arising out of weakness in real estate sector

Ratings, credit rating agency
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Abhijit Lele Mumbai
CARE Ratings has placed PNB Housing Finance Ltd's ( PNBHFL) ratings on watch with developing implications due to requirement to raise money to maintain comfortable capital adequacy and gearing level. 

The action is triggered by increasing share of corporate loan book in PNBHFL's total loan portfolio and the consequent vulnerability arising out of weakness in real estate sector.

CARE in a early morning statement said the impact of the stake sale announced by Punjab National Bank (PNB; promoter of PNBHFL) in PNBHFL is also to be seen. 

PNBHFL debentures and bonds carry "AAA" ratings. 

CARE will continue to monitor developments with regard to the

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First Published: Apr 30 2019 | 9:18 AM IST

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