Livemint reports that Educomp’s ratings were downgraded from ‘A’ to ‘BBB’ by India Ratings and Research Pvt. Ltd., an arm of Fitch Ratings. Educomp’s ratings were downgraded based on the company’s declining revenue and profit. The report states that the ratings of the company might be further downgraded in the future.
Educomp will likely post significantly lower revenue in 2014 as compared to previous years owing to decline in new business.
Read the Livemint report here.