CRISIL places PVR on rating watch with negative implications

PVR has received revision in credit ratings from CRISIL as under -

Total bank facilities rated Rs 823.33 crore
Long term rating - CRISIL AA (placed on rating watch with negative implications)

Non convertible debentures - CRISIL AA (placed on rating watch with negative implications)

The rating action follows the closure of movie theatres across India by orders of state governments to contain the spread of Novel Coronavirus (Covid-19). While the present closure is valid until 31 March 2020, it could be extended if the pandemic worsens. Prolonged closure may significantly impact credit profiles of the film exhibition industry, including PVR.

 

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