Fitch downgrades PNB’s viability rating to ‘BB-’ following Nirav Modi fraud


Following the more than Rs 13,000 crore fraud involving billionnaire jeweller Nirav Modi, Fitch Ratings on Tuesday has downgraded the Viability Rating of Punjab National Bank (PNB) to ‘bb-’ from ‘bb’,and has maintained the bank under Rating Watch Negative (RWN).
Read more at Hindustan Times.

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