CARE assigns ‘In-principle A (SO)’ rating to Jaypee Infratech’s proposed NCD issue

Credit rating agency, CARE has assigned ‘In-principle A (SO)’ rating to Jaypee Infratech’s proposed long-term non convertible debenture (NCD) worth Rs 400 crore.

The company has received the said rating on the back of its credit enhancement in the form of an unconditional and irrevocable corporate guarantee to be provided by Jaiprakash Associates (JP Associates).

Jaypee Infratech was incorporated as a Special Purpose Vehicle for implementation of 165 km long 6-lane Access-Controlled Yamuna Expressway in the state of Uttar Pradesh connecting Noida and Agra.