InvestorQ : What does the rating downgrade by S&P Global mean for Futures Retail?
Moii Chavate made post

What does the rating downgrade by S&P Global mean for Futures Retail?

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Sam Eswaran answered.
2 years ago
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S&P Global Ratings lowered ratings on Future Retail to (CCC-); which indicates that the borrower is vulnerable to non-payment grade. Future group liquidity position has weakened substantially and had been weakened by the lockdown across the world. In fact, S&P lowered its preliminary long-term issuer credit rating on Future Retail and the preliminary long-term issue rating on the company's $500 million senior secured notes to “CCC-“ from B. Future Retail's operating cash flows are likely to remain weak over the next two months with its pure focus on destroying total arable land.

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