ICRA suspends ‘LBBB-‘rating assigned to Baba Arts’ working capital facility

08 Aug 2011

ICRA has suspended the rating of ‘LBBB-‘ with a stable outlook assigned to Baba Arts’ Rs 30 crore working capital facility on the account of company not providing adequate and timely information to ICRA for monitoring the rating. The credit rating agency has reported that the rating shall remain suspended for 3 years before being withdrawn.

Baba Arts is a multifaceted entertainment company, poised to quickly become an influential industry spokesman. It has four divisions dealing in areas of Intellectual Property Rights space, film production, home video and post production. The company has handled 42 films for Doordarshan to telecast, and deals with all other major television channels as well, like Star TV, Sony, Zee Network etc.

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