Credit rating agency, CARE has assigned ‘BBB-’ rating to Adlabs Entertainment’s long term bank facilities worth Rs 855 crore. The rating assigned to the bank facilities of Adlabs Entertainment (AEL) derives strength from the resourceful promoters with diversified experience in media and entertainment industry, strengthening of capital base due to the recent IPO issuance, strategic location of the project with proximity to Mumbai and Pune, theme based rides of international quality standards resulting in encouraging response to the theme park.
The rating is, however, constrained by low profitability margins due to nascent stage of operations and high interest cost burden on account of largely debt funded project.
Adlabs Entertainment own and operates Adlabs Imagica which is India’s first and only international standard theme park. It offers entertainment, dining, shopping and accommodation under one roof. The Rs 1,650-crore theme park spread over 300 acres opened in April 2013. It can accommodate as many as 20,000 visitors.
