Emami Group's health care entities face credit rating downgrade

Since the assets which can help reduce debt are yet to be identified, health care assets are also under consideration

The health care wing of Emami Group, comprising AMRI Hospitals and Frank Ross pharmacy chain, faced a credit rating downgrade in the recent past, even as the promoters decided to reduce their debt level by monetising the group’s assets and/or roping in a strategic partner.

The Agarwal and Goenka families — the promoters of Emami as well as other group companies — have decided to free up their pledged shares and reduce outstanding promoter debt of around Rs 2,200 crore by cashing in on some of the assets the group has created.

“The way forward is not finalised and we are open