Saturday, September 20, 2014

ICRA upgrades Jet Airways’ credit rating

Mumbai: Credit rating agency ICRA, which had downgraded Jet Airways’ loan rating in August, has upgraded it after due consideration, the airline said in a BSE filing on Friday.
“The rating committee of ICRA has after due consideration upgraded the long-term rating for Line of Credit from ICRA D to ICRA C,” the filing said.
“Further the rating committee of ICRA has also upgraded the short-term rating for Line of Credit from ICRA D to ICRA A4,” it added.
In its August 21 report, ICRA had downgraded Jet Airways’ long-term debt rating to ICRA D from ICRA BB. Instruments in D rating are either on default or expected to default soon.
20/09/14 Indian Express
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