CARE upgrades credit rating on bank facilities of PNC Raebareli Highways

28 Feb 2022 , 10:41 AM

CARE Ratings Limited has upgraded ratings on the bank facilities of PNC Infratech Limited subsidiary, PNC Raebareli Highways Private Limited. The rating on long-term bank facilities (Senior Debt) Rs423.66 crore (Reduced from Rs441.01 crore) has been upgraded to CARE AA+; Stable, revised from CARE AA; Stable.

On long-term bank facilities (Subordinate Debt) Rs50.36 crore (reduced from Rs52.41 crore) the rating has been upgraded to CARE AA; Stable, revised from CARE AA-; Stable.

Meanwhile, CARE Ratings Limited has reaffirmed credit rating on the bank facilities of the company’s another subsidiary, MP Highways Private Limited. The rating on the long-term bank facilities Rs94.73 crore (Reduced from 156.67) has been reaffirmed at CARE A; Stable.

At around 10.44 am, PNC Infratech Ltd was trading at Rs263.75 per piece down by Rs1.15 or 0.43% from its previous closing of Rs264.90 per piece on the BSE.