India Ratings & Research (Ind-Ra) has assigned NCC a long-term issuer rating of ‘BBB-’. The outlook is stable. The agency has also assigned the company’s Rs 50 crore non-convertible debentures (NCDs) a ‘BBB-’ rating.
The ratings reflect the company’s comfortable liquidity position and credit metrics, following its rights issue in October 2014. The company raised about Rs 599 crore through the rights issue. Consequently, the company has been paying its dues within schedule November 1, 2014 onwards.
NCC is engaged in development of real estate. The company’s projects stand on credentials of its work in various sectors such as Housing, Transportation, Power, water, Metals and Oil and gas.
