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CARE reaffirms ratings of GVK Power & Infrastructure’s bank facilities

03 Jan 2015 Evaluate

Credit rating agency, CARE has reaffirmed ‘BBB+’ rating to GVK Power & Infrastructure’s long term bank facilities worth Rs 412 crore. The rating agency has also reaffirmed ‘BBB+/A3+’ rating to the company’s long-term/short-term Bank Facilities worth Rs 95.38 crore.

The ratings assigned to the bank facilities of GVK Power and Infrastructure (GVKPIL) continue to take into consideration experience of the promoters and management team, track record of successful execution of projects, well diversified portfolio of assets under operation and development, healthy traffic registered by assets in airport and transportation vertical, completion and commercialization of terminal II at GVK Chhatrapati Shivaji International Airport (Mumbai International Airport; MIAL) and expansion of the existing terminal at Bangalore International Airport (BIAL) during FY14 (refers to the period April 01 to March 31) and long-term growth prospects for the infrastructure sector

GVK Power & Infrastructure is engaged in infrastructure development in areas of power, airports and roads. Incorporated in 1994, the company till date has invested over Rs 5,000 crore in infrastructure projects.

GVK Power & Infra Share Price

3.54 0.06 (1.72%)
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