ICRA downgrades Fusion Finance ratings, cites negative outlook

ICRA Limited has downgraded the credit ratings for several debt instruments of Fusion Finance Limited, as announced by the company in compliance with SEBI regulations. The ratings for Non-Convertible Debentures and Subordinated Bonds have been lowered to [ICRA]A-(Negative) from [ICRA]A(Negative). The rating for NCD programs was also downgraded from [ICRA]A(Negative) and subsequently withdrawn.