Raj Television Network Bank Loan Facilities Downgraded to IND D
India Ratings and Research has downgraded Raj Television Network Limited's bank loan facilities rating to 'IND D' from 'IND BB' due to delays in debt servicing in November 2025 caused by liquidity constraints. The affected facility is worth INR222 million.
A downgrade to 'IND D' signifies a default or near-default, which has a severe impact on the company's ability to access further credit, its relationships with lenders, and overall financial credibility.
The company's credit rating has been downgraded to 'IND D', indicating a default or near-default status, due to delays in debt servicing and liquidity constraints. This is a significant negative development for the company's financial standing.
Raj Television Network Limited (RTNL) has been downgraded by India Ratings and Research (Ind-Ra). The bank loan facilities (long-term/short-term) rating has been downgraded to ‘IND D’ from ‘IND BB’. The downgrade is attributed to RTNL's delays in debt servicing during November 2025, stemming from liquidity constraints. This aligns with Ind-Ra’s Default Recognition and Post-Default Curing Period Policy.
The rating action specifically impacts a bank loan facility of INR222 million. The detailed rationale highlights the delay in debt repayment as a key rating driver, with no strengths identified in this regard. RTNL's liquidity position is described as poor due to the inability to service debt obligations on time.
India Ratings previously assigned a rating of ‘IND BB+’ with a Stable outlook on April 3, 2024, and revised it to ‘IND BB’ with a Stable outlook on November 19, 2024. The current downgrade to ‘IND D’ signifies a default or near-default situation. The company's financial indicators for FY25 show a revenue of INR1,258.20 million and an EBITDA of (INR196.99) million, with a negative EBITDA margin of (15.66%).
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Raj Television Network Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Raj Television Network Limited. Read the original for the full detail.