Fri 04/24/2020 10:05 AM
Relevant Document:
Ratings Downgrade Announcement
Indian lenders have granted Future Retail an additional 15% ad hoc working capital limit and most state owned banks are in the process of disbursing the funds, according to a sellside and a company source.
Future Retail is likely to secure around INR 6.5 billion ($85 million) of working capital lines as lenders enable access to peak festive season limits during non-peak season, the sources said.
Banks should disburse as much as 30%...
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