Rating agency, CARE has revised rating of Jyoti Structures’ long term bank facilities worth Rs 4,129.88 crore to A- from A. The rating agency has also revised rating of the company’s short term bank facilities worth Rs 760.00 crore to A2+ from A1.
The company has received the said revised rating on the back change in liquidity profile of the company due to elongated working capital cycle due to higher debtor days and concomitant deterioration in the capital structure and debt coverage indicators due to increase in working capital related borrowings.
Jyoti Structures is solution provider in area of high voltage power transmission lines and substations. The company provides wide range of services from design, engineering consulting, tower testing, manufacturing, construction and project management.
