Credit Rating agency CARE has revised rating of Housing Development and Infrastructure’s (HDIL) Non Convertible Debenture (NCD) I worth Rs 355.69 crore and NCD II worth Rs 1667.50 crore to A from A+.
The rating agency has also revised rating of company’s short term NCD worth Rs 200 crore to A2+ from A1.
HDIL is a real estate development company. Its business activity comprises of construction and development of residential projects, commercial, retail and slum rehabilitation projects. It is also engaged in construction of special economic zone (SEZ).