Poor financial condition of discoms poses risk to power traders: Fitch

New Delhi: Rating agency Fitch says the poor financial condition of state electricity boards could pose significant business risks to power traders in the country. In a report released today, Fitch Ratings It said the credit exposure of power traders has become “risky” due to the lack of profitability and liquidity faced by the state power companies. “If these utilities have liquidity problems that are causing delays or defaults in their liability for electricity traders, this in turn increases business risk for electricity traders,” it noted. This allows investors in…

Fitch withdraws Reliance Capital’s rating

New Delhi: Fitch on Friday said it has withdrawn its ratings Reliance Capital Because the company has decided to stop participating in the agency’s rating process. “The rating has been withdrawn because Reliance Capital has ceased to participate in the rating process. Therefore, Fitch will no longer have sufficient information to provide ratings or analytical coverage of Reliance Capital.” Fitch Ratings said in a statement. Reliance Capital, a leading financial services company of the Anil Ambani Group, has interests in diverse sectors including asset management, mutual funds, portfolio management services,…