CRISIL has revised its rating outlook on the long-term bank facilities of Ramky Infrastructure to ‘Negative’ from ‘Stable’, while reaffirming the rating at ‘A+’; the rating on the company’s short-term bank facility has been reaffirmed at ‘A1’. The outlook revision reflects the Ramky Infra group’s financial risk profile, especially its liquidity, will be constrained over the medium term.
The group has significant equity commitment towards its various special-purpose vehicles (SPVs), which are implementing road projects on build-operate-transfer (BOT) basis.
Ramky Infrastructure, the flagship company of the Ramky Group, is engaged in construction and infrastructure development, operation and management. It has serviced a diverse range of construction and infrastructure projects in sectors as varied as water and waste water, transportation, irrigation, industrial parks (including SEZs), power transmission and distribution, residential, commercial and retail property.