Credit rating agency, CRISIL has downgraded rating of Joonktollee Tea & Industries’ long term bank facilities to ‘BBB- /Negative’ from ‘BBB/Stable’. The rating agency has also downgraded rating of the company’s short term bank facilities to ‘A3’ from ‘A3+’.
Joonktollee Tea is engaged in producing tea. It also deals in other plantation crops such as coffee, pepper, cardamom, areca, vanilla, and rubber.