Credit rating agency, CARE has reaffirmed C rating to C&C Construction’s long-term bank facilities worth Rs 470.61 crore. The rating agency has also reaffirmed A4 rating to the company’s short term bank facilities.
The company has received the said rating reaffirmation on the back of its stretched liquidity position, working capital intensive operations and weak financial risk profile. Further, the ratings factor in the recent debt restructuring under the ambit of Corporate Debt Restructuring (CDR) cell.
C&C Construction is a medium-sized construction company engaged in Engineering, Procurement and Construction services for infrastructure projects in the construction of highways, airport runways, bridges, water sewerage, sanitation, buildings and power transmission.
