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Asset Reconstruction Companies Feel The Heat As Covid Delays Recoveries
ARCs may face short term pressures but the industry does not expect longer term pain due to the pandemic.
11 Sep 2020, 04:55 PM IST
Asset reconstruction companies have seen recoveries come to a near halt over the last six months, prompting a downgrade in security receipts issued by these firms against assets purchased by them from lenders.Ratings agency ICRA Ltd. on Thursday said a higher proportion of security receipts are being downgraded due to fallout of the Covid-19 pandemic. “The recovery for the ARCs are getting affected due to deferment or failure of auct...
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