Revision in Credit Rating

Network 18 Media & Investments Ltd has informed BSE that ICRA Limited (ICRA) - the Credit Rating Agency, has revised/affirmed the credit ratings of the Company as given below:

- Long-term rating from [ICRA] BBB+ (Pronounced ICRA triple B plus) to [ICRA] A (Pronounced ICRA A) and short-term rating from [ICRA]A2+ (pronounced ICRA A two plus) to [ICRA]A1+ (pronounced ICRA A one plus) for Rs. 140 Crore bank facilities of the Company. The outlook on the long-term rating is revised from "Stable" to "Positive".

- From MA- (Pronounced MA Minus) to MA (Pronounced MA) for the Fixed Deposit Programme of the Company. The outlook on the medium term rating is revised from "Stable" to "Positive"

- Reaffirmed as "[ICRA] A1 + (SO)" (Pronounced ICRA A one plus Structured Obligation) for Commercial Paper of Rs. 100 Crore of the Company.

Source : BSE - >www.bseindia.com

Published on June 11, 2014
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