CARE assigns ratings to A2Z Infra Engineering’s bank facilities

Credit rating agency, CARE has assigned ‘D’ rating to A2Z Infra Engineering’s long-term bank facilities worth Rs 1,018.54 crore. The rating agency has also assigned ‘D’ rating to the company’s Short-term bank facilities worth Rs 1,251.46 crore. The ratings assigned to the bank facilities of A2Z Infra Engineering (A2Z) take into account the ongoing delays in debt servicing by the company.

A2Z Infra Engineering is primarily engaged in providing Engineering, Procurement and Construction (EPC) services in power transmission and distribution sector with focus on distribution. It also forayed in the renewable energy generation business through by setting up three biomassbased power plants (15 MW each) in Punjab in collaboration with sugar mills on Built Own Operate and transfer (BOOT) basis.