CARE revises rating of Eros International Media’s long term bank facilities

27 Aug 2014 Evaluate

Credit rating agency, CARE has revised rating of Eros International Media’s Long term Bank Facilities worth Rs 450 crore to ‘AA-’ from ‘A+’. Besides, the rating agency has also revised rating of company’s Proposed Non-Convertible Debentures Issue worth Rs 500 crore to ‘AA-’ from ‘A+’. Meanwhile, the rating agency has reaffirmed ‘AA-’ rating to the company’s Short term bank facilities worth Rs 1 crore and ‘A1+’ rating to company’s Commercial Paper/Short-term  Debt (CP/STD) worth Rs 200 crore.

The revision in the ratings assigned to various debt instruments/ bank facilities of Eros International Media (EIML) takes into account the substantial improvement in the profitability margin in FY14 (refers to the period April 01 to March 31) resulting from strong operating performance and enhanced financial flexibility with the listing of ultimate holding company, ie, Eros International Plc on foreign bourse.

Eros International Media is a part of the Eros Group., which has an extensive film library and is in the business of sourcing Indian and other film content and exploiting it worldwide through its offices in India, UK, USA, UAE, Singapore, Australia, the Isle of Man and Fiji across formats such as theatres, home entertainment, television and digital new media.

Eros Internatl.Media Share Price

17.92 -0.25 (-1.38%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
PVR 1320.55
Saregama India 345.90
Eros Internatl.Media 17.92
Shemaroo Entertain. 141.50
Balaji Telefilms 72.90
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt.Ltd.