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ICRA revises rating for Term Loan program of HB Estate Developers to ‘D’

13 May 2013 Evaluate

Credit rating agency, ICRA has revised the rating outstanding for Rs 150 crore Term Loan program of HB Estate Developers from ‘BB’ to ‘D’. The company is however of the firm opinion that the revised rating is not fair and is taking up the matter with ICRA appropriately.

HB Estate Developers is primarily engaged in the development of commercial complexes. The company is also planning to enter into development of residential complexes.

Peers
Company Name CMP
Lodha Developers 1159.00
Prestige EstatesProj 1473.50
Dilip Buildcon 411.10
DLF 671.80
Oberoi Realty 1848.15
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