ICRA downgrades Rs 25 cr Long-Term NCD Prog of Samtel Color

New Delhi, June 27 (UNI) Credit rating agency ICRA today downgraded the rating for the Rs 25 crore Long-Term Non-Convertible Debenture (NCD) Programme of Samtel Color Ltd (SCL) to LBB from LBBB assigned earlier.

LBB is the inadequate-credit-quality rating and carries high credit risk.

The downgrade of rating follows SCL's delay in meeting its repayment obligations against term loans from banks and financial institutions due to the liquidity pressures brought about by a sharp decline in the company's income and profits.

The rating also factors in SCL's leading position in the domestic market, and the company's plans to introduce a product range that meets the changing market demands better.

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