Money & Banking

Brickwork Ratings downgrades Cox and Kings Financial Service’s loan facilities

Our Bureau Mumbai | Updated on October 30, 2019

Brickwork Ratings has downgraded the ratings of the bank loan facilities of Cox and Kings Financial Service Ltd aggregating Rs 400 crore, to default grade 'D', the company said in a stock exchange filing. The bank loan facility was availed from YES Bank.

The previous rating on the long-term cash credit and short-term bank guarantee were 'C' and 'A4', respectively. Both the ratings were tagged 'issuer not co-operating', according to a statement by the credit rating agency.

Published on October 30, 2019

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