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ICRA downgrades rating of Skyline Millars’ long term-funds based limits

07 Jan 2016 Evaluate

Credit rating agency ICRA has downgraded rating of Skyline Millars’ long term-funds based limits to ‘D’ from ‘BB+’. The rating agency has downgraded the rating due to delays in debt servicing by the company on account of cash flow mismatches arising due to delays in project commissioning and muted off-take for the RCC (reinforced cement concrete) products being manufactured by the company.

The main activities of the company are manufacturing of construction equipment and EOT cranes.

Peers
Company Name CMP
Lodha Developers 1094.00
Prestige EstatesProj 1481.30
Dilip Buildcon 393.80
DLF 664.00
Oberoi Realty 1717.20
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