Credit rating agency, CARE has reaffirmed the assigned ‘BBB’ ratings to the long-term bank facilities of Saregama India for reduced amount. The amount is been reduced from Rs 37.80 crore to Rs 25.50 crore. The agency has also reaffirmed the assigned ‘A3+’ ratings to the short-term bank facilities of the company amounting for Rs 3.30 crore.
The above ratings continue to draw strength from the long and satisfactory track record of Saregama India, established group, experienced management, strong brand positioning, large music archive, comfortable leverage ratios and positive outlook of the media & entertainment industry.
Saregama India is engaged in manufacturing, selling and dealing of gramophone records, radio receivers, radiograms, record players, record producers, pick-up cartridges, components and accessories thereof and other allied products.
