CRISIL Ratings has downgraded INOX Leisure’s ratings on the bank facilities. The agency has downgraded long term bank facilities to ‘A+/Negative’ and short term facilities to ‘A1’ from ‘AA-/Negative’ and ‘A1+’, respectively. The rating action reflects CRISIL Ratings’ expectation of weakening of the company’s business risk profile over the medium term.
INOX Leisure is amongst India’s largest multiplex chains.