Jan

Tycoon Mistry’s Asset Sales in Focus After Downgrades

Credit ratings of five group firms revised lower in two months
154-year-old group is in process of divesting more assets

Pallonji Mistry in 2006. Photographer: India Picture/UIG via Getty Images

Reclusive billionaire Pallonji Mistry is trying to offload more assets and pay down debt after some of his companies had their debt ratings cut late last year.

Ratings on debt instruments of at least five companies in the 154-year-old Shapoorji Pallonji Group were cut in the last two months. The conglomerate’s businesses range from construction to real estate and financial services…

Tycoon Mistry’s Asset Sales in Focus After Downgrades

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Tycoon Mistry’s Asset Sales in Focus After Downgrades

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