Covid-19: Future Lifestyle seeks recast of payment to operational creditors

CARE Ratings has revised outlook on Future Lifestyle Fashions Ltd's long term loans from "positive" to "negative"

Future Lifestyle Fashions is seeking ad-hoc working capital limits from lenders to enhance liquidity as the temporary closure of outlets during the lockdown triggered by coronavirus disease (Covid-19) has hit cash flows. It is also negotiating with operational creditors to restructure terms of payment.
 

CARE Ratings revised the outlook on Future Lifestyle Fashions’ long-term loans from “positive” to “negative”. Its rating is ‘AA-’ . The sharp fall in the share price of listed group entities has impacted the overall financial flexibility of the group and restricted its ability to raise capital.
 

The reaffirmation of Future Lifestyle Fashions’ ratings derives strength