Ind-Ra affirms Prime Focus' long term issuer rating at 'BBB/Stable'

The affirmation and RWN resolution reflect the demonstrated ability of PFL to manage its cost structure.

May 26, 2021 02:05 IST India Infoline News Service

India Ratings and Research (Ind-Ra) has affirmed Prime Focus Limited’s (PFL) Long-Term Issuer Rating at ‘IND BBB’ while resolving the Rating Watch Negative (RWN). The Outlook is Stable.

Ind-Ra continues to take a consolidated view of PFL and its principal subsidiaries, including Prime Focus Technologies Limited and DNEG India Media Services Limited on account of the strong legal, operational and strategic linkages among them.

The affirmation and RWN resolution reflect the demonstrated ability of PFL to manage its cost structure, maintain solid revenue generation and stable debt profile, leading to an improvement in the profitability to above historical levels and consequently the credit metrics in FY21.

At around 2:41 PM, Prime Focus was trading at Rs64.75 apiece down by Rs0.65 or 0.99% from its previous closing of Rs65.40 apiece on the BSE.

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