Jet Airways declines nearly 4% on ICRA downgrade

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    Jet Airways declines nearly 4% on ICRA downgrade
    Shares of Jet Airways fell nearly 4 per cent in early trade on Bombay Stock Exchange (BSE) on reports that the credit rating agency Icra has downgraded the company's loan ratings from ""BB" to "D". Instruments with "D" rating are in default or are expected to be in default soon. The agency has brought the airline's long-term and short-term loans and fund- and non-fund based limits amounting to Rs 7,460 crore under this rating, the Business Standard report suggests.

    The shares of company fell as much as 3.88 per cent to trade at Rs 235.05 a piece on the BSE.

    Similarly, shares of the company fell 4.07 per cent 234.75 a piece on National Stock Exchange.

    Meanwhile, the broader benchmark Sensex was quoting at 26,596.07, up 176.52 points or 0.67 per cent at 11.11 hours.

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