Zodiac Matches That Make The Best Couples
Poonawala Housing Finance, once an AAA-rated financial institution, has faced a significant downgrade in its credit rating by Care Ratings. The downgrade, which saw the company’s rating plummet from AAA to AA-, has raised several questions about the credibility of rating agencies, the involvement of the Poonawala family, and the transparency of the ownership transition.
The recent downgrade of Poonawala Housing Finance’s credit rating by three notches has undoubtedly sent shockwaves through the financial industry. The company’s creditworthiness, which was once considered the highest level of safety and reliability, is now seen as having a slightly higher risk of default.
Speaking of, Poonawala Housing Finance has undergone a significant change in ownership, with the Poonawala family reportedly selling the company to Texas Pacific Group (TPG), a global private equity firm.
The downgrade has ignited debates over the assessment criteria employed by rating agencies, specifically Care Ratings in this case. Many industry experts and investors are questioning whether the downgrade was primarily based on the performance of Poonawala Housing Finance as a business entity or if it factored in the change in ownership.
There are speculations regarding the involvement of personal guarantees from the Poonawala family in relation to the loans taken by the now-sold Poonawala Housing Finance. This raises the question of whether the personal financial standing of the Poonawalas played a role in the downgrade decision. If personal guarantees were indeed provided, it might indicate a higher level of risk tied to the company’s loans.
The downgrade of Poonawala Housing Finance’s credit rating also exposes a potential gap in transparency between companies, rating agencies, and investors. The lack of clarity surrounding the rationale for the downgrade can shake investor confidence and even fuel skepticism about the rating agency’s motives.
Analysts predict that the stock could drop closer to the Rs 70 mark. Ola Electric…
This election is one of the most divisive in US history. Harris and Trump have…
Opposition members alleged that Pal calls JPC meetings without consulting them and restricts their opportunity…
The Delhi Police opposed Saifi’s bail, citing evidence from WhatsApp messages exchanged among the accused.…
To protect millions of devotees at Maha Kumbh, the UP govt is implementing advanced security…
This landmark event, organized at the historic Military Institute, will honor the sacrifices of the…