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Crisil downgrades ratings on bank facilities of Inox Leisure to A+/Negative/A1
ANI |
Updated: Apr 19, 2021 13:05 IST
Mumbai (Maharashtra) [India], April 19 (ANI): Crisil has downgraded its ratings on bank facilities of Inox Leisure Ltd (ILL) to A+/Negative/A1 from AA-/Negative/A1+.
The rating action reflects expectation of weakening of ILL s business risk profile over the medium term. It was earlier expected that with resumption of operations in October 2020, the occupancy will improve gradually with return of content to the multiplexes.
However, said Crisil, with the recent spike in Covid-19 cases, recovery in operating performance of multiplexes will be delayed. Many states have already announced localised lockdowns, night curfews and restrictions over occupancy levels in cinemas. ....

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