Credit rating agency, CARE has revised rating of New Delhi Television’s long term bank facilities worth Rs 130.70 crore to ‘BBB+’ from ‘A-’. The rating agency has also revised rating of company’s short term bank facilities worth Rs 4 lakh to ‘A2+’ from ‘A1’. The revision in the ratings assigned to the bank facilities of New Delhi Television (NDTV) factors in the continued deterioration in the financial risk profile of the company during FY16 and Q1FY17 marked by decline in operating income on y-o-y basis and continued losses due to the decline in advertisement and subscription revenue of the company and weak financial performance of NDTV Profit &Prime channel leading to operational losses during the period. The revision in the ratings also takes into account the delay in monetization plans of the company.
NDTV operates as a television media company in India and internationally. Its channels offer news and current affairs, lifestyle, entertainment, and youth programs, as well as family and realty shows, chat shows, and period dramas.
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