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

branch-photo-office-window-delhi-punjab-national_ebbaac1c-3cb0-11e8-80b2-0257d29a997a

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.

Translate »