PVR's rating reaffirmed; outlook revised from stable to positive

PVR said that outlook on long term rating has been revised by ICRA following the completion of a QIP in October 2019.

In an exchange filing made after market hours on Friday, 3 January 2020, PVR said that the outlook on long term rating has been revised following the completion of a Qualified Institutional Placement (QIP) in October 2019, with the same leading to an inflow of Rs 500 crore.

The rating on Non-convertible Debenture Programme and Fund based-Term Loan were reaffirmed at [ICRA]AA- and outlook was revised from stable to positive by ICRA. Meanwhile, the rating on Commercial Paper was reaffirmed at A1+.

 

The PVR stock fell 0.17% to settle at Rs 1,875.95 yesterday, 3 January 2020.

PVR is a film entertainment company, which is engaged in the motion picture exhibition in cinemas. The company has organized its operations into three business segments: movie exhibition, movie production & distribution and others.

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