Shadow banks owned by Edelweiss, KKR latest to face ratings downgrade

Shadow banks owned by Edelweiss, KKR latest to face ratings downgrade

Mumbai, India. Photo by Prerna Rajkumar on Unsplash

Rating company Crisil on Monday lowered by a notch the credit ratings of non-bank lenders owned by private equity firm KKR & Co. and financial services group Edelweiss, in the latest wave of downgrades to hit Indian shadow banking.

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