Credit rating agency, CARE has reaffirmed BBB+ rating to GMR Infrastructure’s long term bank facilities worth Rs 225 crore from ‘A-’ rating. The rating agency has also reaffirmed A2 rating to the company’s Rs 300 crore short term bank facilities from A2+.
The company has received the said rating reaffirmation due to challenging operating environment for group’s various operating assets, (particularly the energy sector) consequently affecting their cash generation ability and significant increase in borrowings leading to a stretched capital structure, while the group still has large investment commitments.
