(ADPnews) - Jul 28, 2010 - Indian rating agency CRISIL said it gave a C rating to local studded jewellery retailer Shree Mukt Jewellers' (SMJ) bank facilities.
The rating was assigned to the firm's INR 130 million (USD 2.8m/EUR 2.1m) cash credit facility, which includes a sub-limit of INR 50 million for bank guarantee, and INR 20 million rupee term loan.
The rating reflects a delay by SMJ in servicing its term loan. The delay has been caused by SMJ's weak liquidity.
SMJ is exposed to high …
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