Global credit rating agency, Standard & Poor’s has affirmed ‘B+’ long-term issue rating on Indiabulls Real Estate’s guaranteed senior notes. The outlook is stable. The agency expects the company’s financial performance to improve over the next 12-18 months.
S&P added that the Mumbai-based realty firm continues to face execution risk from its rapid expansion and is also exposed to some project concentration over the next 12-24 months.
Indiabulls Real Estate is engaged in real estate development, directly as well as through various subsidiaries and associate companies. The main focus of the company is construction and development of properties, project management, investment advisory and construction services.
