Credit Rating

Sadbhav Engineering Ltd has informed BSE that the rating agency Credit Analysis & Research Ltd (CARE) has revised its rating to long term bank facilities of Rs. 302.20 crores and short term / long-term bank facilities of Rs. 1550.00 crores of Company as under:

1. From CARE A+ (Single A Plus) to ‘CARE AA-’ [Double A Minus] relating to the Long term facilities of the Company. Instruments with this rating are considered to have very strong degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.

2. Further the said rating agency has reaffirmed the ‘CARE A1+’ [A One Plus] rating assigned to the Short Term facilities of the Company including Commercial Paper for an amount of Rs. 175 crores. Instruments with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.

3. Further the said rating agency has reaffirmed the CARE A1+ [A One Plus] to Commercial Paper (CP) issue / Short Term Debt (STD) issue of Company aggregating to Rs. 25.00 croes. Instruments with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.

Source : BSE - www.bseindia.com

Published on January 10, 2012
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