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Brickwork revises outlook on Karma Energy credit facilities, reaffirms ratings

Brickwork Ratings has reaffirmed the long term rating at BWR BBB- with a revision in outlook from "Stable" to "Negative" for the Bank Loan Facilities.

June 30, 2021 9:30 IST | India Infoline News Service
Brickwork Ratings reaffirms the long term ratings with a revision in outlook for the Bank Loan Facilities of Rs. 25.27 Crs. of Karma Energy Ltd.

Brickwork Ratings has reaffirmed the long term rating at BWR BBB-  with a revision in outlook from "Stable" to "Negative" for the Bank Loan Facilities of Rs25.27cr of Karma Energy Ltd.

The rating reaffirmation factors in the extensive experience of the promoters, corporate guarantee and significant group support & DSRA account of Rs10cr maintained by the entity. 

The rating outlook has been revised to "Negative" from “Stable”, on account of deterioration in financial performance, delays in debtors realisation and the pending litigation on the sale of REC’s.

At around 9:35 AM, Karma Energy was trading at Rs19.78 apiece up by Rs0.65 or 3.4% on Sensex.

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