Ahluwalia Contracts (India) has informed that CARE have upgraded ratings for Ahluwalia Contracts India taking into account the improvement in financial risk profile of the company for the year 2015. The improved rating is reflected by healthy profitability margin and cash accruals. The improvement in solvency position and debt coverage indicators are led by improvement in order execution and funds infusion by promoters leading to relatively lesser reliance on external debt. The credit rating have been upgraded to CARE A- from CARE BBB+ for Long term Bank facilities (Fund Based) of Rs. 160 Crores and CARE A-/CARE A2+ from CARE BBB+/ CARE A3+ for Long/ Short term Bank Facilities (Non Fund Based) of Rs. 745 Crores.
The above information is a part of company’s filings submitted to BSE.
