Live
- Grand 30th Alumni Reunion at Vattam Jawahar Navodaya Vidyalaya
- Tensions Erupt Outside Allu Arjun's Residence as OU JAC Stages Protest
- DMK adopts resolution condemning Amit Shah's remarks on Ambedkar
- Truck Driver Brutally Murdered in Mulugu District
- Telangana State Cross Country Championship 2024 Successfully Conducted in Kalwakurthy
- Odisha: Collectors asked for proper assessment of crop loss due to unseasonal rainfall
- Woman flyer says Air India left passengers in the lurch in Milan
- ‘Nuvvu Gudhithe’ from ‘Drinker Sai’ is a playful exchange between lead pair
- ‘Marrichettu Kinda Manollu’ gets a grand launch
- Prabhas’ ‘Salaar: Part 1 - Cease Fire’ marks first anniv.
Coffee Day deleveraging assets to cut debt
Coffee Day Enterprises Ltd (CDEL), whose long-term rating has been recently downgraded to 'D' by credit rating agency Icra, is "deleveraging its assets" for debt reduction and to ensure liquidity position for the company.
New Delhi: Coffee Day Enterprises Ltd (CDEL), whose long-term rating has been recently downgraded to 'D' by credit rating agency Icra, is "deleveraging its assets" for debt reduction and to ensure liquidity position for the company.
Earlier, this week, Icra had downgraded CDEL long-term rating 'D' with negative outlook from 'BB+' (Negative) based on Rs 315 crore term loans. "The rating action follows the delay in debt servicing by CDEL's flagship subsidiary - Coffee Day Global Limited and Sical group of companies," said CDEL in a regulatory filing. "The Company is in the process of deleveraging its assets to ensure liquidity position for the company .... "
Sical Logistics on Thursday said it has an external debt of Rs 1,488 crore, secured by the personal guarantees of late Coffee Day Group promoter V G Siddhartha. The Coffee Day Group company, which runs port terminals and container freight stations, was working on "strategic alternatives" to deleverage the company. Since Siddhartha's death, Coffee Day Enterprises Ltd (CDEL) has been trying to divest its assets to pare debt.
