Moody's downgrades PNB on the impact of Nirav Modi fraud

The international ratings agency Moody's said on Monday that it downgraded the state rating from Punjab National Bank (PNB) to Ba1 / NP from Baa3 / P-3, due to the impact on the lender's profitability after the Nirav case Modi-fraud.

http://www.zeebiz.com/companies/news-moodys-downgrades-pnb-on-the-impact-of-nirav-modi-fraud-47946

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