IL&FS Group shares hit 52-week low;IL&FS Transportation Networks falls 15%

The rating agency ICRA on Sunday downgraded loans and debentures of infrastructure financing firm.

Shares of all three listed companies of IL&FS have hit their respective 52-week lows on the BSE, falling by up to 15% in intra-day trade after rating agency ICRA on Sunday downgraded loans and debentures of infrastructure financing firm.

“Rating agency ICRA has effected a multi-notch rating downgrade for IL&FS, which is facing liquidity pressure and overleveraged. Its loans and debentures now carry “BB” (junk or non-investment status) as against the previous rating of "AA+". Also, the commercial paper carries "A4" rating against the previous rating of "A1+",” Business Standard reported.

IL&FS Transportation Networks (ITNL) has slipped 15%