{"id":126033,"date":"2019-07-04T21:30:33","date_gmt":"2019-07-04T21:30:33","guid":{"rendered":"https:\/\/www.bnreport.com\/brickwork-ratings-cuts-outlook-on-edelweiss-ncds-to-negative\/"},"modified":"2019-07-04T21:30:33","modified_gmt":"2019-07-04T21:30:33","slug":"brickwork-ratings-cuts-outlook-on-edelweiss-ncds-to-negative","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/brickwork-ratings-cuts-outlook-on-edelweiss-ncds-to-negative\/","title":{"rendered":"Brickwork Ratings cuts outlook on Edelweiss NCDs to negative"},"content":{"rendered":"<p>MUMBAI:<a href=\"https:\/\/economictimes.indiatimes.com\/edelweiss-financial-services-ltd\/stocks\/companyid-19100.cms\" rel=\"noreferrer noopener\" target=\"_blank\">Edelweiss Financial<\/a> Services on Thursday said <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/Brickwork-Ratings\" rel=\"noreferrer noopener\" target=\"_blank\">Brickwork Ratings<\/a> has revised the outlook on its Rs 50 crore <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/non-convertible-debenture\" rel=\"noreferrer noopener\" target=\"_blank\">non-convertible debenture<\/a> (NCD) programme to negative from stable, while re-affirming the credit rating of BWR AA+.<\/p>\n<p>\u201cAs of date, no debt is outstanding pursuant to this rating and, accordingly, the rating remains unutilised,\u201d Edelweiss said in a notice to the BSE.<\/p>\n<p>Last week, <a href=\"https:\/\/economictimes.indiatimes.com\/icra-ltd\/stocks\/companyid-1311.cms\" rel=\"noreferrer noopener\" target=\"_blank\">ICRA<\/a> had cut Edelweiss Financials long-term NCD rating to AA- from AA with a negative outlook.<\/p>\n<p>ICRA cited higher vulnerability for Edelweiss in the financial firms wholesale lending book, with heightened risk profile of assets from real estate and structured debt.<\/p>\n<p>\u201cThe rating downgrade reflects the increased vulnerability in the Edelweiss Groups wholesale lending book with the heightened risk profile of the underlying assets, comprising real estate and structured debt transactions across sectors, and the consequent rise in stressed exposures,\u201d the firm had said.<\/p>\n<p>Icra had poin<a href=\"https:\/\/economictimes.indiatimes.com\/markets\/stocks\/news\/brickwork-ratings-cuts-outlook-on-edelweiss-ncds-to-negative\/articleshow\/70078369.cms\" rel=\"noreferrer noopener\" target=\"_blank\"><strong>Read More \u2013 Source<\/strong><\/a><br \/>\n[contf]<br \/>\n[contfnew]<br \/>\n        <img decoding=\"async\" src=\"https:\/\/img.etimg.com\/photo\/60278104.cms\" \/><\/p>\n<h5><a href=\"https:\/\/economictimes.indiatimes.com\/\" rel=\"noreferrer noopener\" target=\"_blank\">ET Markets<\/a><\/h5>\n<p>[contfnewc]<br \/>\n[contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI:Edelweiss Financial Services on Thursday said Brickwo..<\/p>\n","protected":false},"author":1,"featured_media":126034,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-126033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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