By Ankit Gohel Dec 11, 2019 11:00:27 AM IST (Published)
The revision in the rating factors in stressed liquidity position and deterioration in the financial flexibility of the company which has led to instances of devolvement of Letter of Credits (LC) and overutilisation in its working capital limits for more than 30 days.
Shares of PC Jeweller Ltd. fell over 8 percent to touch its 52-week low of Rs 20.80 on Wednesday after CARE Ratings downgraded the medium-term instrument of the company.
Live Tv
Loading...
The rating agency downgraded the ratings of the fixed deposit programme of the company to CARE D (FD).
The revision in the rating factors in stressed liquidity position and deterioration in the financial flexibility of the company which has led to instances of devolvement of Letter of Credits (LC) and overutilisation in its working capital limits for more than 30 days.