CRISIL reaffirms ratings of KNR Constructions’ bank facilities

27 Nov 2013

Credit rating agency, CRISIL has reaffirmed ‘A-/Stable’ and ‘A2+’ ratings on bank facilities of KNR Constructions. The ratings continue to reflect the KNR group’s strong execution capabilities and robust financial risk profile, marked by healthy capital structure and debt protection metrics.

The ratings also factor in the project risks emanating from the Walayar-Vadakkancherry project being undertaken by the company's fully owned subsidiary KNR Walayar Tollways (KWTPL) on a design-build-finance-operate-transfer (DBFOT Toll) basis.

KNR Constructions is an infrastructure development company providing engineering, procurement and construction services across various fast growing sectors, namely, roads and highways, irrigation and urban water infrastructure management.

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