ICRA revises ratings assigned to bank facilities of Network 18 Media & Investments

Credit rating agency, ICRA has revised/affirmed the credit ratings of bank facilities of Network 18 Media & Investments. The credit rating agency has revised long-term rating from ‘BBB+’ to ‘A’ and short-term rating from ‘A2+’ to ‘A1+’ for Rs 140 crore bank facilities of the company. The outlook on the long-term rating is revised from Stable to Positive. The agency has also revised rating from ‘MA-‘ to ‘MA’ for the Fixed Deposit Programme of the company. The outlook on the medium term rating is revised from Stable to Positive. Further, the agency has reaffirmed the rating as ‘A1 + (SO)’ for Commercial Paper of Rs 100 crore of the company. Network 18 Media & Investments is one of India's leading full play media conglomerates with interests in television, print, internet, filmed entertainment, mobile content and allied businesses.