Credit rating agency, CARE has reaffirmed ‘BBB’ rating to Jyoti Structures’ long term bank facilities worth Rs 4,893 crore which was enhanced from Rs 4,129.88 crore. The rating agency has also reaffirmed ‘A3’ rating to the company’s short term bank facilities worth Rs 915.00 crore which was enhanced from Rs 760.00 crore.
The reaffirmation of the ratings assigned to the bank facilities of Jyoti Structures (JSL) continue to factor in the deterioration in the liquidity profile of the company due to elongation of the working capital cycle on account of an increase in receivable days.
Jyoti Structures is solution provider in area of high voltage power transmission lines and substations. The company provides wide range of services from design, engineering consulting, tower testing, manufacturing, construction and project management.
