S&P Global Ratings downgrades Axis Bank, Bajaj Finance’s ratings to ‘junk’

S&P Global Ratings on Friday lowered its ratings on Axis Bank and Bajaj Finance to ‘junk’ while highlighting the increased economic risks to India’s banks and financial institutions. The global ratings agency downgraded Axis Bank’s issuer credit rating to BB+/stable/B from BB-/negative/A-3 earlier; double-B category means bond falls in ‘junk’ category. “We […]