Credit rating agency Credit Analysis & Research (CARE) has upgraded rating of Gayatri Projects’ long term bank facilities worth Rs 2,108.84 crore to ‘BBB-/Stable’ from ‘BB-’. The rating agency has also upgraded the company’s long term/short term bank facilities worth Rs 3900 crore to ‘BB-; Stable/A3’ from ‘BB-/A4’. The upgrade reflects the steady improvement of the company’s financial profile mainly driven by strengthening its core construction business.
Gayatri Projects is a Hyderabad-based infrastructure and construction company with a presence across the segment, primarily undertaking road and irrigation projects.
