CARE reaffirms ratings Reliance Broadcast Network’s bank

Credit rating agency, CARE has reaffirmed ‘AAA (SO)’ rating to Reliance Broadcast Network’s long-term bank facilities worth Rs 202 crore which was enhanced from Rs 52 crore. The rating agency has also reaffirmed ‘AAA (SO)’ rating to the company’s Non-Convertible Debentures (NCD) worth Rs 150 crore. The ratings are based on the credit enhancement in the form of unconditional and irrevocable corporate guarantee provided by Reliance Capital [RCL, rated AAA (long-term debt)/AA+ (subordinated debt)/ PP-MLD AAA (equity linked debenture)] for ensuring the timely servicing of the debentures of Reliance Broadcast Network. Reliance Broadcast Network has a multi media play in the spaces of radio, television and intellectual property, out of home and television products and specializes in creating and executing integrated solutions for clients, across the country.