Future Retail receives revision in credit ratings for USD denominated notes

Future Retail announced that Fitch Rating has revised the rating on the company's USD denominated notes (listed on SGX) by reaffirming the rating at 'C' while revising the Recovery Rating to 'RR5' from 'RR4'. Fitch has removed the Rating Watch Positive (RWP). The removal of the RWP underscores the significant delay in completing the sale to Reliance Group.

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