Fitch cuts PNB’s viability rating to ‘b’ from ‘bb-‘ after Nirav Modi’s Rs 14,000 crore fraud

Fitch Ratings today downgraded viability rating of fraud-hit Punjab National Bank, citing significant deterioration in its credit profile and oversight gaps. The viability rating (VR) has been downgraded to 'b' from 'bb-' and maintained on 'rating watch negative' (RWN).

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JfonVZ