According to PTI report, 'BBB' ratings indicate that expectations of default risk are currently low and the capacity for payment of financial commitments is considered adequate but adverse business or economic conditions are more likely to impair this capacity.
With negative outlook added to this rating, this means the ratings can be downgraded, it added.Reacting to news, shares of company declined as much as 3.30 per cent to trade at Rs 320.60 a piece on the BSE.
In a similar fashion, shares of the company slipped 3.00 per cent to Rs 321.55 a piece on National Stock Exchange.
Meanwhile, the broader benchmark Sensex was quoting at 21,341.59, up 52.10 points or 0.24 per cent at 9:35 hours.
Dion Global Solutions Ltd.