ICRA has withdrawn the ‘A’ rating on rating watch with developing implications assigned to Cinemax Properties’ Rs 88.0 crore worth term loans; Rs 25.0 crore worth long-term fund-based facilities and Rs 3.24 crore long-term non-fund based facilities.
Meanwhile, the rating agency’s ‘A’ rating on rating watch with developing implications assigned to the Rs 5.26 crore worth short-term, non-fund based facilities of Cinemax Properties (CPL, erstwhile Cinemax India), too has been withdrawn as these facilities have been transferred to Cinemax India (erstwhile Cinemax Exhibition India) post the demerger of operations with effect from April 01, 2012.
ICRA now has a rating of ‘A’ on rating watch with developing implications outstanding on the Rs 22.0 crore worth term loans of Cinemax Properties.
