Credit rating agency, CARE has assigned ‘A-‘ratings to GVK Power & Infrastructure’s long-term bank facilities worth Rs 425 crore. The rating agency has also reaffirmed rating of company’s long-term/short-term bank facilities worth Rs 200 crore to ‘A-’ /’A2’.
The company has received the said rating on the back of its experienced promoters and management team, the track record of successful execution of projects, well-diversified portfolio of assets under operation and development and growth prospects for the infrastructure sector. The ratings, however, are constrained by high investment commitments in medium term, inherent risk associated with development of Greenfield infrastructure projects, exposure to the subsidiaries and other group companies in the form of corporate guarantees and decline in operating performance of the company’s gas-based power plants.
GVK Power & Infrastructure is engaged in infrastructure development in areas of power, airports and roads. Incorporated in 1994, the company till date has invested over Rs 5,000 crore in infrastructure projects.
| Company Name | CMP |
|---|---|
| NTPC | 393.65 |
| Tata Power | 427.45 |
| Adani Power | 198.40 |
| Power Grid Corp | 318.05 |
| Torrent Power | 1565.30 |
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