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| Exchange Received Time 20/12/2017 11:56:37 Exchange Disseminated Time 20/12/2017 11:56:43 Time Taken 00:00:06 | We hereby inform that M/s India Ratings & Research Private Limited (Ind-Ra) has placed Can Fin Homes Ltd. Long-Term Issuer Rating of `IND AAA' on Rating Watch Negative (RWN) for the instruments viz., Commercial Paper, Sub-ordinated Debt, Non-Convertible Debentures (NCDs). The reason for placing Can Fin Homes Ltd. on Rating Watch Negative (RWN), as mentioned in their report, is the appointment of investment bankers by Canara Bank (Canara, 'IND AAA'/Stable) for a stake sale (in part or in full) in its subsidiaries/ associates, including CFHL. The report also mentions that Ind-Ra will resolve the rating watch once it attains further clarity on the impact of the said transaction on the factors such as shareholding structure, management control, board representation, branding and inherent credit profile, and will take an appropriate rating action.
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