Future Retail announces revision in credit ratings for proposed NCD and its withdrawal

Future Retail announced that Brickwork Ratings India has revised the ratings for the proposed NCD from BWR A+ (under credit watch with negative implications) to BWR A (under credit watch with negative implications) and simultaneously withdrawn.

Revised rating due to weakening of the profitability and liquidity due to the lockdown being extended. Further, the rating was withdrawn at the request of the Company as the Company do not propose to raise the proposed NCD and not utilise rating.

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