INSUBCONTINENT EXCLUSIVE:
IBH reported a net profit of Rs
after rating agency Moody's Investors Service downgraded the mortgage lender's corporate family rating to "Ba2" from "Ba1"
The credit ratings agency also changed its outlook to "negative" from "stable"
The downgrade reflects renewed pressure on the cost and availability of funds for Indiabulls Housing Finance and certain other finance
companies in the country, Moody's said in a statement on Wednesday
has been changed to negative to reflect the possibility that the tight funding conditions may persist for some time, which could further
pressure other aspects of IBH's credit profile, such as profitability and asset quality," it said.On the National Stock Exchange (NSE),
Indiabulls Housing Finance shares opened lower at Rs 521.50 apiece and dropped to as much as Rs 498.00 apiece, marking a decrease of 9.67
On the Bombay Stock Exchange (BSE), the share price of the company declined as much as 9.66 per cent to touch the Rs 498 mark at the day's
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