Credit rating agency – CRISIL has reaffirmed PVR’s long-term bank facilities and Non-Convertible Debentures (NCDs) aggregating Rs 370 crore at AA/Negative. The agency assigned Short Term Rating at A1+. Furthermore, the agency has withdrawn its rating on Rs 40 crore NCDs as the instruments have been fully repaid.
The rating on the debt instruments continues to factor in strong liquidity supported by the rights issue and also the ability to curtail operating costs while operations were shut.
PVR is the largest and most premium film exhibition company in India. Since its inception in 1997, the brand has redefined the way entertainment is consumed in the country.
