Moody’s rates Eros B1

Moody’s Investors Service said it assigned a corporate family rating of B1 to Eros International plc.

The outlook is stable.

“Eros plc's B1 rating reflects the company's leading position in the Indian film industry, with an unparalleled content library, consisting of multi-format rights to over 3,000 films and over 12,000 digital rights,” the agency said in a news release.

“The company is an integrated operator with an extensive and well-established global distribution platform which provides monetization opportunities across the life cycle of a film.

“The rating also accommodates Eros plc's very small scale (revenues of around $300 million) compared to global peers, strained cash flow metrics resulting from an ongoing need to invest in content, moderate liquidity profile as well as its complex group structure.”

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