EROS - Eros STX discloses improvement in credit rating of Indian subsidiary

Eros STX (EROS) subsidiary, EIML, has received a long-term credit rating of ‘B’ from Acuité Ratings & Research Limited on its INR4.65B (about $62M) bank facilities. The outlook is 'Stable'.EROS says that all other outstanding credit ratings are in the process of being withdrawn, and the Acuité credit rating will be the primary credit rating for all EIML credit facilities and borrowings.In its rating press release, Acuité noted “The company will continue to benefit from its established brand position and large content library. The outlook maybe revised to ‘Positive’ in case the liquidity position of the company is significantly improved”.Press Release

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Eros STX discloses improvement in credit rating of Indian subsidiary