Credit rating agency, Credit Analysis & Research (CARE) has revised its rating of Sadbhav Engineering’s long term bank facilities of Rs 302.20 crore and short term / long-term bank facilities of Rs 1,550.00 crore.
CARE has reaffirmed the rating from ‘A+' to ‘AA-’ relating to the long term facilities of the company. Instruments with this rating are considered to have very strong degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.
It has reaffirmed the A1+ rating assigned to the short term facilities of the company including commercial paper for an amount of Rs 175 crore. Instruments with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.
Further, the agency has reaffirmed the A1+ to commercial paper (CP) issue / short term debt (STD) issue of company aggregating to Rs 25.00 crore. Instruments with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.
