Moody’s trims India Infoline

Moody's Investors Service said it downgraded the corporate family rating and senior secured debt rating of India Infoline Finance Ltd. to B1 from Ba3.

At the same time, Moody's placed the ratings under review for further downgrade.

The agency said the action reflects the impact on India Infoline Finance of the breadth and severity of the pandemic shock and the deterioration in credit quality it has triggered.

Moody's said it expects India Infoline Finance's funding and liquidity to remain under strain over the next few quarters as the domestic debt markets remain largely closed to many non-banking finance companies.

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