Credit rating agency, Credit Analysis & Research (CARE) has revised ‘BB+’ rating to Simplex Projects’ long term bank facilities of worth Rs 2,055 crore which was reduced from worth Rs 2,105 crore from BBB+
The rating agency has also revised A4+ rating to company’s Short-term Bank Facilities of worth Rs 300 crore from A2 and BB+/A4+ to Long/Short-term Bank Facilities of worth Rs 220 crore which was reduced from worth Rs 170 crore from BBB+/A2
Simplex Projects (SPL) was incorporated in the year 1990 as a public company. The registered office of the company at Calcutta controls project sites all over India. In a decade of its working SPL has emerged as a renowned civil engineering and construction company. The company has procured a fleet of costruction equipment over this period.