Reliance Infra slips 10% on rating downgrade by Brickwork

Shares of Reliance Infrastructure (RInfa) slipped 10 per cent to Rs 50 in early morning trade on the BSE on Monday after rating agency Brickwork downgraded the company’s bank loan facilities of Rs 1,151 crore to 'BWR D' from 'BWR C'.

“The revision in the rating assigned to the bank loan facilities of Rs 1,151 crore of RInfra is primarily due to the deterioration in the credit risk profile and weakening of the financial/debt servicing profile of the company owing to substantial losses reported by the company during FY19. Further, some of the SPVs/subsidiaries companies rated by BWR, have