Jaysynth Dyechem Ltd
28 Jan 2000
1
- Non convertible debenture - Rs. 8 crore Rating : BBB to D (Downgraded)
The ‘BBB’ (pronounced triple B) rating assigned to the Rs. 80 million non-convertible debenture issue of Jaysynth Dyechem Limited (JDL) has been downgraded to ‘D’ (pronounced single D).
The revision in rating reflects the difficult business environment in the dyestuffs industry, which has led to a significant decline in the profitability of JDL. This has affected the company’s financial flexibility and the company is not meeting its debt obligations in a timely manner.
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