Credit rating agency, CARE has reaffirmed ‘BB’ rating to Birla Shloka Edutech’s (BSEL) long term bank facilities worth Rs 36 crore. The rating agency has also reaffirmed ‘A4’ rating tocompany’s short term bank facilities worth Rs 5 crore.
The revision in the ratings of Birla Shloka Edutech takes into consideration the strain on the company’s liquidity position due to the delays in the realization from the debtors and the continuing deterioration in the financial profile of the group companies towards which the company had a substantial exposure.
Birla Shloka Edutech is engaged in the business of providing IT and IT enabled solutions to schools and institutions under the Information & Communication Technology (ICT) projects.
