Fitch takes rating action on four Indian NBFIs after pandemic-impact review
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Fitch Ratings has taken rating action on the long-term issuer default ratings of four Indian non-bank financial institutions (NBFIs) in light of the companies' performance amid the coronavirus pandemic. IIFL Finance's B-plus rating has been maintained on rating watch negative. Manappuram Finance has been affirmed at BB-minus with rating watch negative removed and outlook stable.