UFO Moviez India receives reaffirmation in credit ratings

From ICRA

UFO Moviez India announced that ICRA has reaffirmed the long-term rating outstanding of ICRA A+ (pronounced ICRA A plus) for line of credit for Rs 182.30 crore and revised the outlook to Negative from Stable. As per ICRA, the revision in outlook on the long-term rating of the Company factors in the significant disruption to its operations caused by the Covid-19 pandemic and delayed recovery in operations.

The short-term rating for the Company's line of credit continues to remain outstanding. at ICRA A1 (pronounced ICRA A one ).

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