Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to IL&FS Engineering and Construction Company’s long term bank facilities worth Rs 994.79 crore which was reduced from Rs 1,028 crore.
The rating agency has also reaffirmed ‘A3’ ratings to company’s short term bank facilities worth Rs 1,360 crore. The company has received the said rating on the back of its financial support and business synergies from the well-established and experienced promoter groups.
IL&FS Engineering and Construction Company is engaged in infrastructure development, construction and project management. The company has undertaken projects in segments such as roads/ expressways/ highways, buildings and industrial structures, irrigation canals and dams and thermal and hydel power.
