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CRISIL reaffirms and withdraws ratings on Sobha's bank loan facilities

CRISIL Ratings has fully combined the business and financial risk profiles of all projects in Sobha and its subsidiaries.

December 07, 2021 9:54 IST | India Infoline News Service
CRISIL Ratings has reaffirmed its ratings on the bank facilities of Sobha Limited and subsequently withdrawn the ratings on receipt of withdrawal request from client and No Objection Certificates (NOCs) from the bankers.

The withdrawal is in line with CRISIL Ratings' policy on withdrawal of bank loan ratings.

The ratings were reaffirmed for long-term bank facilities at CRISIL A+/Stable while for short-term facilities it was reaffirmed at CRISIL A1.

CRISIL Ratings has fully combined the business and financial risk profiles of all projects in Sobha and its subsidiaries and associate companies, collectively referred to as the Sobha group, because the entities have the same business, common promoters and significant operational, managerial and financial linkages.

At around 9:56 AM, Sobha was trading at Rs846.40 per piece up by Rs7.3 or 0.87% on Sensex.

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PRESTIGE (NSE)

The average score for Prestige Estates Projects Limited stands at 4 against 6, three months back.

Prestige Estates Projects Limited is engaged in the business of real estate development. The Company’s principal products/services include Development and construction

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