Coffee Day Enterprises (CDEL) is deleveraging its assets for debt reduction and to ensure liquidity position for the company. Earlier, ICRA had downgraded CDEL long-term rating 'D' with negative outlook from 'BB+' (Negative) based on Rs 315 crore term loans.
Coffee Day Enterprises is the parent company of the Coffee Day Group, which houses Cafe Coffee Day that pioneered the coffee culture in the chained cafe segment in India.