Fitch takes rating action on four Indian NBFIs following pandemic

SINGAPORE: Fitch Ratings has taken rating action on the Long-Term Issuer Default Ratings (IDR) of four Indian non-bank financial institutions (NBFI) in light of the companies’ performance amid the coronavirus pandemic. The rating actions are as follows: ·         IIFL Finance Limited ‘B+’ rating maintained on Rating Watch Negative (RWN) ·         Manappuram Finance Limited (MFIN), affirmed at ‘BB-‘;…