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ICRA cuts Janalakshmi Financial Services outlook to negative

ICRA cuts Janalakshmi Financial Services outlook to negative

Tuesday, March 21, 2017, 8:42 PM

Rating agency ICRA today cut the long-term rating outlook of Janalakshmi Financial Services to negative from stable due to deterioration of its collection efficiency after demonetization. It reaffirmed the A+ rating for the Rs 1,300 crore long-term bank facilities, Rs 3,966 crore non-convertible debenture program and Rs 751 crore subordinated debt program of the microfinancier.
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