Brief: Zee Media Corp Says CARE Ratings Downgraded Co's Bank Facilities

Zee Media

09/07/2019 10:28

July 9 (Reuters) - Zee Media Corporation Ltd  ZEEN.NS :
    * SAYS CARE RATINGS DOWNGRADES ITS LONG-TERM BANK FACILITIES
OF
OVER 2 BILLION RUPEES TO 'CARE BBB; STABLE' FROM 'CARE A'
    * CARE RATINGS DOWNGRADES RATING ON CO'S SHORT-TERM BANK
FACILITIES WORTH 380 MILLION RUPEES TO 'A3+' FROM 'A1'
    * SAYS NEW RATINGS REFLECT WEAKENING OF ZEE'S CAPITAL
STRUCTURE
AND LIQUIDITY POSITION
    * NEW RATINGS FACTOR IN REMOVAL OF SUPPORT OF ESSEL GROUP
BUILT
INTO RATINGS DUE TO WEAKENED FINANCIAL FLEXIBILITY AT ESSEL
GROUP LEVEL

Source text: http://bit.ly/2LcZWNi
Further company coverage:  ZEEN.NS 

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