CRISIL reaffirms credit ratings on Music Broadcast's bank loan facilities

The ratings continue to reflect the strong market position of MBL in the FM radio broadcasting industry.

Jul 26, 2021 03:07 IST India Infoline News Service

CRISIL Ratings has reaffirmed its ‘CRISIL AA/Stable/CRISIL A1+’ ratings on the bank facilities of Music Broadcast Limited (MBL).

The ratings continue to reflect the strong market position of MBL in the FM radio broadcasting industry, healthy financial risk profile and managerial, operational and financial linkages with the parent, Jagran Prakashan Ltd.

The credit risk profile of MBL remains supported by its strong market position, healthy liquidity of over Rs242cr as on June 30, 2021, nil debt and high financial flexibility.

CRISIL Ratings has applied its parent notch-up framework to factor in strong operational, financial and managerial linkages of MBL with JPL.

Music Broadcast ended at Rs25.05 apiece down by Rs0.1 or 0.4% on the BSE.

Related Story

Open Free Demat Account (Rs699)