Share price of Jet Airways slipped 2.4 percent intraday Friday after rating agency ICRA downgraded rating to company’s long term loans and non-convertible debentures (NCDs).
ICRA has revised the long term rating (assigned to long term loans and non-convertible debentures) to ICRA C from ICRA B with negative outlook. The short term rating has been reaffirmed to ICRA A4.
This rating downgrade considered delays in the implementation of proposed liquidity initiatives by the company. Read More