Credit rating agency, ICRA has revised the long term rating assigned to Rs 315 crore bank facilities of PBA Infrastructure (PBAIL) from LC to D.
The rating reflects persistent delays by the company in meeting its debt servicing obligations due to weak liquidity position on account of delays in receiving payments from clients.
PBA Infrastructure is engaged in execution of civil engineering projects and specializes in construction of Highways, Dams, Runways and heavy RCC structures, Bridges and other infrastructure projects.
