Jet Airways hits five-month low

MUMBAI, Aug 26 (Business Standard): Jet Airways has dipped 4 per cent to Rs 224, extending its previous day's 5 per cent fall on BSE, after 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 stock opened at Rs 232 and hit a low of Rs 222, its lowest level since March this year on BSE. A combined 966,121 shares changed hands on the counter so far on BSE and NSE.

ICRA revised the rating assigned to the Rs 32.10 billion, long-term, fund-based bank facilities of Jet Airways (India) to "D" from "BB".