Post Reliance Industries’ takeover, ICRA revises Network18’s ratings

MUMBAI: It was only a few days ago that Reliance Industries announced the takeover of Network18, and the effects of the acquisition can already be seen. In a statement to the Bombay Stock Exchange (BSE), the media house has said that independent and professional investment and credit rating agency ICRA has revised its current ratings of the company.

Network18 media and investments’ long term rating has been changed from ICRA BBB+ to ICRA A. Meanwhile its short term rating which was at ICRA A2+ is now at ICRA A1+. This for Rs 140 crore bank facilities of the company. “The outlook on the long-term ratings is revised from ‘stable’ to ‘positive’,” states the announcement.

The fixed deposit programme of the company has been revised from MA- to MA with its outlook on the medium term rating revised from ‘stable’ to ‘positive’. The commercial paper of Rs 100 crore of the company was reaffirmed as ICRA A1+.

On the other hand, Network18’s subsidiary TV18 also saw its ratings being revised. The credit rating for the fixed deposit of the company has been revised from MA- to MA with medium term outlook changed from ‘stable’ to ‘positive’.

The long-term rating for bank facilities of Rs 370 crore of the company has from ICRA BBB+ changed to ICRA A. Outlook on long-term rating is revised from ‘stable’ to ‘positive’.

Credit rating for the commercial paper of Rs 200 crore has been reaffirmed as ICRA A1+.

Reliance Industries has now given an open offer that will go on till July.

Latest Reads
Comedy Central sets pace for ultimate celebration with over 100 hours of non-stop FRIENDS ultra marathon for its 6th birthday

Birthdays and New Years are great occasions to make resolutions for participating in marathons. However, this is one marathon which calls for hanging up your running shoes and grabbing the best spot in front of the telly with a bowl of munchies to keep you going because, for the first time ever in...

Television TV Channels English Entertainment
U Sports launches India's first ever Multi-Platform Multi-Game E-Sports Championship - U Cypher with MTV

The Indian E-Sports scenario is all set for a major revamp as U Sports, one of India’s biggest sports business companies in association with India’s No. 1 Youth Brand, MTV, announces the premiere of their all new month-long championship, U Cypher with MTV. Premiering today, on 19th January, the...

Television TV Channels Sports
TV ownership increased by 14% in 2017: IRS

After a gap of four years, the Indian Readership Survey (IRS), which documents the growth of the media industry, has been released for 2017. The survey methodology was criticised in 2014 and, therefore, was halted for an upgrade. This time, the sample size has been increased by 34 per cent to 3.2...

Television TV Channels Viewership
CNN-News18 launches 'If I Were FM Challenge'

As part of its Budget programming, CNN-News18 is launching the ‘If I were FM Challenge’. The campaign will encourage viewers to contribute their suggestions for the Union Budget. The channel will run an extensive on-air campaign to promote the same.

Television TV Channels News Broadcasting
BBC World News to Broadcast 'China's Chat Girls'

Lele Tao is an internet superstar in China’s $3 billion dollar ‘live streaming’ industry. With more than a million fans she can earn thousands of dollars a day singing, dancing, flirting, or often just chatting into her webcam. Fans buy her virtual gifts which she redeems for cash. In return she...

Television TV Channels News Broadcasting
PKL season 6 and 7 dates announced

The second most watched domestic league in India, Vivo Pro Kabaddi League owned by Mashal Sports and Star India announced the dates of sixth and seventh season.

Television TV Channels Sports
Star Bharat leads Hindi GEC (U+R) in week 2 of BARC ratings

MUMBAI: Star Bharat emerged as the leader in the Hindi GEC (U+R) genre dethroning Zee Anmol according to Broadcast Audience Research Council (BARC) all India data for week 2 of 2018.

Television TV Channels Viewership
BARC week 2: Aaj Tak leads Hindi News in all three markets

MUMBAI: Republic TV continues its leading streak in the second week of the year as well in BARC All India ratings. News Nation stays in the top five chart in week 2 of 2018 in Hindi News Rural market. Aaj Tak tops the chart again in Hindi News Urban market.

Television TV Channels Viewership
Dsport acquires India rights of tri-nation tournament in SL

Discovery’s sports channel Dsport has acquired the exclusive India broadcast rights of Nidahas Trophy 2018, a tri-nation international T20 tournament involving India, Sri Lanka and Bangladesh. The transaction was facilitated by Lagardère Sports, the global marketing consultant of Sri Lanka Cricket...

Television TV Channels Sports

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories