CARE revises rating on bank facilities of PNC Infra’s arm PNC Kanpur Highways

The company also informed about the resignation of Chhotu Ram Sharma as Independent Director.

Mar 24, 2021 12:03 IST India Infoline News Service

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CARE Ratings Limited has revised credit rating on the bank facilities of PNC Infratech Limited’s Subsidiary. PNC Kanpur Highways Limited.

The rating on long- term bank facilities Rs147.39cr (Reduced from Rsl63.02cr) has been revised to CARE A; Stable from CARE A- / Stable.

The company also informed the exchanges that Chhotu Ram Sharma on March 22, 2021 resigned from the position of Independent Director of the Company, due to health issues confirming that there are no other material reasons for his resignation other than mentioned.

The Board of Directors of the company taken note of the resignation of Chhotu Ram Sharma, with effect from close of business hours on March 22, 2021.  The company appreciate the valuable services rendered by him during his tenure as an Independent Director.

At around 12.11 pm, PNC Infra was trading at Rs250.05 per piece down Rs0.05 or 0.02% on the BSE.

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