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CARE Ratings assigns credit rating to Sadbhav Infra bank facilities

The rating on long-term / short-term bank facilities of the company has been revised to CARE BB+/ CARE A4 (CWN).

October 11, 2021 12:48 IST | India Infoline News Service
CARE Rating has assigned the credit rating to Sadbhav Infrastructure Project Limited. The rating on long-term / short-term bank facilities Rs400cr has been revised to CARE BB+/ CARE A4 (CWN) from CARE BBB / CARE A3+ (CWN) (Continues to be on Credit Watch with Negative Implications).

“The revision in the ratings assigned to the bank facilities of Sadbhav Infrastructure Project Limited (SIPL) reflects stretched liquidity position of Sadbhav group despite raising substantial long-term funds in H1FY22,” the company shared CARE Rating rationale.

At around 12.50 pm, Sadbhav Infrastructure Projects Ltd was trading at Rs15.90 per piece down by Rs0.05 or 0.31% from its previous closing of Rs15.95 per piece on the BSE.

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