Brickwork lowers outlook for Future Retail's proposed NCDs to negative

Future Retail has a network of 1,550 stores in 432 cities across its brands, including Big Bazaar.

Future Retail Ltd on Friday said Brickwork Ratings India has reaffirmed rating for the company's proposed non-convertible debentures (NCDs) issue with change in outlook to negative from stable.

The rating agency has also reaffirmed rating for the company's proposed commercial paper at BWR A1+.

In a filing to the BSE, Future Retail informed that the company has "received intimation dated 12 December, 2019 from Brickwork Ratings India Private Limited wherein rating for commercial paper (proposed) has been reaffirmed as BWR A1+ and for NCDs (proposed) has been reaffirmed at BWR AA with change in outlook from stable to negative".

Future Retail has a network of 1,550 stores in 432 cities across its brands, including Big Bazaar, Easyday, WHSmith, fbb and ezone, in 16.40 million sq ft area, as on September 30, 2019.

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