Brickwork downgraded the rating of one of its NC preference shares totalling Rs 806.78 crore.
07 Jan, 2021 - 04:34 PM IST | By indiantelevision.com Team
NEW DELHI: Even as Zee Entertainment Enterprises Ltd (ZeeL) CEO Punit Goenka s 4.0 vision measures are beginning to bear fruit and are resulting in a better performance for the company, credit rating agency Brickwork Ratings India has downgraded its rating and that of its debt, namely the six per cent cumulative redeemable non-convertible preference shares. These debt instruments are worth Rs 806.78 crore.
ZeeL informed the Bombay stock exchange about Brickwork s downgrade yesterday.
The previous rating for the six per cent cumulative redeemable non-convertible preference shares instrument was BWR AA- (credit watch with negative implications) while the new rating is BWR A (credit watch with negative implications).