Credit rating agency, Credit Analysis & Research (CARE) has revised rating of Core Education & Technologies’ long term bank facilities worth Rs 696.40 crore to ‘D’ from ‘BB+’ and Long/Short-term Bank Facilities worth Rs 150.00 crore to ‘D+’ from ‘BB+’/ ‘A4+’.The rating agency has also revised rating of company’s Non-Convertible Debenture (NCD) worth Rs 150.00 crore to ‘D+’ from ‘BB+’.
The revision in the ratings assigned to the bank facilities & instruments of CETL is on account of the delay in servicing of rated debt obligations due to the company’s weak liquidity position.
CORE Education & Technologies operate in three segments; Education, Enterprise Resource Planning (ERP) and consulting and logistics.
Company Name | CMP |
---|---|
TCS | 3669.50 |
Infosys | 1406.25 |
HCL Tech. | 1323.00 |
Wipro | 437.75 |
Tech Mahindra | 1232.50 |
View more.. |