Credit rating agency, CARE has revised ratings of Rs 284.60 crore long term bank facilities of ARSS Infrastructure Projects to ‘D’ from ‘BB’. The rating agency has also revised ratings of Rs 10 crore short term bank facilities of the company to ‘D’ from ‘PR4’
The aforesaid revision in rating takes into account instances of delays in debt servicing obligations by the company.
ARSS Infrastructure Projects is engaged in construction activities in India. It undertakes construction of railway infrastructure, roads, highways, bridges and irrigation projects. The company has developed expertise in railway construction projects, which includes earthwork, major and minor bridges, supply of ballast, sleepers, laying of sleepers and rails, linking of tracks etc.
