Credit rating agency -- CARE has revised the credit rating for Non-Convertible Debenture Issue (NCDs) (Series XVI - C and XVI - D) of Future Enterprises at ‘D’ from ‘C’. Rating removed from credit watch with developing implications. Rating was downgraded on account of the default in payment of NCD interest.
Future Enterprises develops, owns and leases the retail infrastructure for the Group. The company also holds the Group’s investments in subsidiaries and joint ventures including insurance, textile manufacturing, supply chain and logistics.
