S&P Global downgrades Future Retail to 'SD' on restructuring of onshore debt
Updated : April 29, 2021 11:56:03 IST
The rating agency sees the restructuring as distressed and tantamount to default because the original terms of the loans have been changed without adequate offsetting compensation.
The rating agency kept the issue rating on Future Retail's US$500 million senior secured notes at 'CCC-'.
Published : April 29, 2021 11:56 AM IST