Credit Rating Agency ICRA has revised Long Term rating of Jet Airways to ‘D’ from ‘C’. Besides, the Short Term rating has been revised to ‘D’ from ‘A4’.
This rating downgrade considers the delay by the company in the payment of interest and principal installment due on December 31, 2018 due to cash flow mismatches and delays in the implementation of proposed liquidity initiatives by the company.
Jet Airways is India’s premier international airline, which operates flights to India and overseas. The company’s robust domestic India network spans the length and breadth of the country covering metro cities, state capitals and emerging destinations.
