Moody’s retains stable outlook on PFC, REC post acquisition announcement

Global rating agency Moody’s Investors Service on Wednesday said it has retained the previous stable outlook on Power Finance Corporation and REC Limited, as it expects quick closure of a deal between the two firms and resolution of a chunk of their bad loans. Borrowing programmes of the two firms were put under watch by rating firms post announcement of the acquisition.

Power Finance Corp last week announced a deal value of Rs 14,500 crore to acquire government’s stak ..
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