CARE assigns ‘CARE A’ and ‘PR1’ rating to the bank facilities of OM Metals Infraprojects

24 Jun 2011

Credit rating agency, CARE has assigned ‘CARE A’ rating to the long-term rupee term loan of OM Metals Infraprojects (OMIL) for Rs 8.78 crore. The agency has also assigned ‘CARE A’ rating to the long-term fund-based facilities of the company for Rs 155.20 crore.

Further, the agency has also assigned ‘CARE A/PR1’ rating to the long-term/short-term non-fund based activities of the company for Rs 405.00 crore.

The ability of OMIL to timely execute the order book, its ability to reduce the operating cycle and extent of its investment in the real estate sector shall be the key rating sensitivities.

OM Metals Infraprojects is a conglomerate having diverse business activities and interests related to hydro-mechanical equipments, turnkey solutions for steel fabrication, hydro-power developments, real estate, leasing, finance, entertainment centers, hotels and tourism.

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