INSUBCONTINENT EXCLUSIVE:
negative, reflecting the continued delay and inconclusive quantum of the anticipated equity infusion.
This is the third downgrade of the
potentially create challenges on the asset and liability side
view that the required capital infusion is critical for providing sufficient cushion to the possible credit cost impact from the stressed
raising sizeable capital in the very near term could be challenging and could require various regulatory and other approval.
The rating
could be reviewed towards February-end 2020, it said.