From ICRAJet Airways (India) announced that ICRA has revised the Long Term rating (assigned to Long term Loans and Non-Convertible Debentures) to [ICRA] C (pronounced lCRA C) from [ICRA] B (pronounced ICRA B) (negative outlook).
The Short Term rating has been reaffirmed to [lCRA] A4 (pronounced ICRA A four).
This rating downgrade considered delays in the implementation of proposed liquidity initiatives by the Company.
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