pnb fitch rating

ALL RIGHTS RESERVED.Fitch Puts Punjab National Bank's Viability Rating On Negative WatchNirav Modi Further Remanded In Custody Until August 27, Trial Begins In SeptemberPunjab National Bank Falls on Reporting DHFL's Rs 3,689 Crore Loan As FraudPunjab National Bank Reports Rs 3,689-Crore DHFL Loans As Fraud Over 1,10,000 MSMEs have been rated by us. CRISIL has downgraded its rating on the long-term debt instruments, bank facilities and fixed deposit programme of PNB Housing Finance Limited (PNB Housing) to 'CRISIL AA/FAA+' from 'CRISIL AA+/FAAA'. The Viability Rating measures credit worthiness of a financial institution and reflects the likelihood of the entity to fail, as per Fitch. We pioneered the concept of credit rating in India in 1987. It expects PNB’s capital position to recover gradually, but downside risk remains. The company has positive cumulative gaps in the upto 1 year bucket (excluding lines of credit) largely helped by high on-balance sheet liquidity. PNB's other ratings are unaffected by this downgrade. With a tradition of independence, analytical rigour and innovation, CRISIL sets the standards in the credit rating business. The ratings also factor in the brand-sharing benefits from the parentage of PNB.Please refer Annexure - List of entities consolidated, which captures the list of entities considered and their analytical treatment of consolidation.PNB Housing's asset-liability maturity profile is strong. Further, the company had estimated collections (including prepayments) of Rs 20,000 crore over the same period.

As on December 31, 2019, the company had debt repayments of Rs 19,500 crore over the six months till June 2020. The RWN reflects the possibility of a downgrade of PNB's Viability Rating. We have rated over 24,500 large and mid-scale corporates and financial institutions.

In December 2009, PNB sold 49% stake in PNB Housing and entered into a strategic partnership with Destimoney Enterprises Pvt Ltd (owned by NSR Partners).

Their resource raising ability is also expected to remain strong while they will continue to maintain high liquidity levels.PNB Housing was set up in 1988, as a deposit-taking housing finance company (HFC) registered with National Housing Bank (NHB), promoted by Punjab National Bank (PNB; rated 'CRISIL AA+/CRISIL AA-/Watch Developing'). Mumbai: Fitch Ratings has downgraded Punjab National Bank’s viability rating- its view on the bank’s creditworthiness to 'bb-' from 'bb' implying higher risk of default by the bank.

Moody's Investors Service on Tuesday placed Punjab National Bank's (PNB) rating under review for downgrade after the lender reported a ₹11,500 crore fraud.

CRISIL AA/Stable (Downgraded from 'CRISIL AA+/Negative') CRISIL AA/Stable (Downgraded from 'CRISIL AA+/Negative') CRISIL AA/Stable (Downgraded from 'CRISIL AA+/Negative') Non-Convertible Debentures Aggregating Rs.5700 Crore^CRISIL AA/Stable (Downgraded from 'CRISIL AA+/Negative') Short Term Non-Convertible Debentures Aggregating Rs.500 CroreRefer to annexure for Details of Instruments & Bank FacilitiesCRISIL has downgraded its rating on the long-term debt instruments, bank facilities and fixed deposit programme of PNB Housing Finance Limited (PNB Housing) to CRISIL has fully consolidated the business and financial risk profile of PNB Housing and its subsidiary given the managerial, operational and financial linkages. Additionally, as on January 31, 2020, PNB Housing has cash equivalents (not considering SLR investments of around Rs 1,918 crore) of Rs 7,625 crore and sanctioned and unutilised bank lines and NHB refinance of Rs 6,351 crore.CRISIL believes that PNB Housing will maintain its gearing metrics post equity raise.

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