CRISIL assigns highest safety to TV Today's CP

NEW DELHI: The credit rating agency CRISIL on Wednesday assigned the highest rating of ''P1+'' to the Rs 15-crore Commercial Paper issue of new channel TV Today Network.
Besides factoring the strong business position of its flagship Hindi news channel Aaj Tak, CRISIL also said Aaj Tak was "likely to maintain its leading position in the short to medium term" notwithstanding competition from the channels like NDTV 24X7, NDTV India, Sahara Samay and Star News.
It said that the TV Today Network''s business risk profile had been moderated by its focus on the niche news segment and its dependence on Aaj Tak as its key revenue driver, the credit rating agency said in a release here.
Promoted by the India Today group, TV Today Network''s healthy capital structure and profitability were also considered for the rating, CRISIL said.
With a reach of over three crore households, the company''s revenue had grown to Rs 100 crore in less than two years from Rs 12 crore, it said.