Future Retail misses ₹3,495 crore repayment, ratings downgraded to default2 min read . Updated: 03 Jan 2022, 06:26 AM IST
- Care Ratings has downgraded Future Retail’s non-convertible debentures, long-term bank facilities and short-term bank facilities to Care D
MUMBAI : Future Retail Ltd has defaulted on its first repayment obligation of ₹3,494.56 crore due on or before 31 December following the one-time debt recast and was therefore downgraded to default grade by Care Ratings, it said in two separate regulatory filings.
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