Crisil downgrades Dewan Housing Finance commercial papers worth Rs 850 cr
Ratings agency Crisil has downgraded the rating of Dewan Housing Finance Corporation's (DHFL) commercial papers worth Rs 850 crore to "A4+" due to a more-than-expected reduction in the company's liquidity.
The previous rating of the company was "A3+", a statement by the rating agency said on Monday. 
The rating continues on "rating watch with negative implications", it added. 
"The downgrade is driven by more-than-expected reduction in the company's liquidity because of further delays in fund raising from sell down of project finance loans and lower inflows from securitisation of non-housing loans," it said. 
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