Ind-Ra revises PNB Housing Finance's non-convertible debt to negative

India Ratings and Research (Ind-Ra) has revised the outlook on PNB Housing Finance's (PNBHF's) non-convertible debentures (NCDs) to negative from stable while affirming the rating at AA. The size of issue is Rs 15,517 crore, down from Rs 21,897 crore earlier. Ind-Ra said the outlook revision reflects an added uncertainty around the timing and quantum of PNBHF's capital raising.