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Brickwork lowers outlook for Future Retail's proposed NCDs to negative

The rating agency has also reaffirmed rating for the company's proposed commercial paper at BWR A1+

Press Trust of India  |  New Delhi 

The acquisition is expected to help the Future Group to strengthen its presence in south India
Future Retail has a network of 1,550 stores in 432 cities across its brands, including Big Bazaar.

Ltd on Friday said Brickwork Ratings India has reaffirmed rating for the company's proposed non-convertible debentures (NCDs) issue with change in outlook to negative from stable.

The rating agency has also reaffirmed rating for the company's proposed commercial paper at BWR A1+.

In a filing to the BSE, informed that the company has "received intimation dated 12 December, 2019 from Brickwork Ratings India Private Limited wherein rating for commercial paper (proposed) has been reaffirmed as BWR A1+ and for NCDs (proposed) has been reaffirmed at BWR AA with change in outlook from stable to negative".

has a network of 1,550 stores in 432 cities across its brands, including Big Bazaar, Easyday, WHSmith, fbb and ezone, in 16.40 million sq ft area, as on September 30, 2019.

First Published: Fri, December 13 2019. 22:45 IST
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