ICRA has revised long-term rating of Network 18 Media & Investments from 'BBB+' to 'A' and short-term rating from 'A2+' to 'A1+' for Rs 1.4 billion bank facilities of the company.

The outlook on the long-term rating is revised from stable to positive.

Also it has revised rating of the fixed deposit programme of the company from 'MA-' to 'MA'. The outlook on the medium term rating is revised from stable to positive.

It has reaffirmed 'A1+' for commercial paper of Rs 1 billion of the company.

Shares of the company declined Rs 2.45, or 3.7%, to trade at Rs 63.70. The total volume of shares traded was 349,692 at the BSE (12.56 p.m., Wednesday).