Credit rating agency, CARE has revised rating of Nutek India’s long term bank facilities worth Rs 70 crore to ‘BBB-’ from ‘BBB’. The rating agency has also revised rating of company’s short term bank facilities worth Rs 30 crore to ‘A3’ from ‘A3+’.
The ratings revision takes into account the prevailing uncertainty in the telecom sector which has led to the decline in the capital expenditure by the telecom operators and consequently the rollout of the telecom infrastructure affecting the revenues from the principal revenue segment viz the telecom infrastructure implementation of Nu tek Indi
Nu Tek India is a telecom infrastructure services provider offering infrastructure rollout solutions for both mobile and fixed telecommunication networks. Their strength lies in the breadth of services they offer in the telecom infrastructure space. They offer services to telecommunication equipment manufacturers, telecom operators as well as third party infrastructure leasing companies in installing and maintaining telecom network equipment and infrastructure.
