Credit rating agency -- ICRA has reaffirmed the UFO Moviez India’s Long-term rating outstanding at ‘A+’ for the captioned line of credit and revised the outlook to negative from stable. As per ICRA, the revision in outlook on the long-term rating of the company factors in the significant disruption to its operations caused by the Covid-19 pandemic and delayed recovery in operations.
The short-term rating for the company's line of credit continues to remain outstanding A1.
UFO Moviez India was incorporated as ‘Valuable Media’. The company is India’s largest digital cinema distribution network and in-cinema advertising platform (in terms of numbers of screens).
