Bank stress: rating agencies warn of likely downgrades

Sitanshu Swain, Hemang Palan
Posted: Tuesday, Aug 19, 2008 at 0129 hrs IST
Updated: Tuesday, Aug 19, 2008 at 0129 hrs IST

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Mumbai, Aug 18: at any conclusion, we might lower the ratings of a few banks.”

DR Dogra, deputy managing director, Care Ratings, said, “The scenario ahead for banks that we have rated may be very different in the days to come since their NPA levels are expected to rise quickly. We will revisit their ratings in the near future and downgrades could be a possibility “

Fitch’s Bhoumik hinted that the current downturn in the sector and the challenges that banks might face in the near future could culminate in a spateof consolidations as a result of economic compulsions....

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