Future Retail receives revision in credit rating for USD denominated notes
Future Retail announced that S & P Global Inc. has rated the USD denominated Notes (listed on SGX) from B- to CCC-.
The reason for the ratings revision is cited as operational uncertainties arising from extended lockdown in India due to COVID-19; weakened liquidity position due to COVID-19; anticipation of weak operating cash flows over next two months.
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First Published: Apr 23 2020 | 7:39 PM IST