Ratings downgrade impact: Edelweiss Financial Services share at 3-year low

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Published: October 8, 2019 5:32:46 AM

Edelweiss Financial Services’ shares fell 5.95% on Monday to close at a 3-year low of Rs 78.50.

The revision takes into consideration rising borrowing costs and lack of funding available to NBFCs.

Edelweiss Financial Services’ shares fell 5.95% on Monday to close at a 3-year low of Rs 78.50, as Crisil downgraded ratings on long-term debt instruments and bank facilities of ECL Finance, a part of the Edelweiss group.

The revision takes into consideration rising borrowing costs and lack of funding available to NBFCs.

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