Gujarat Gas (GGL) said CRISIL has upgraded long term rating on company's bank loan facilities of Rs 2,350 crore to AA+/Stable from AA/Positive. The upgrade reflects CRISIL's expectations of an improvement in GGL's credit profile over the medium term. Sustainable improvement in cash accruals is expected to improve GGL's financial risk profile notwithstanding the sizeable capital expenditure programme.
Allahabad Bank said that the Government of India has released fresh capital infusion Rs 2,153 crore towards contribution of the Central Government in the preferential allotment of equity shares (Special Securities/Bonds) of the bank during the financial year 2019-20, as Government's investment.
Hindustan Aeronautics said CARE Rating has downgraded it's rating on the bank facilities of the company worth Rs 7300 crore to AA+ from AAA.
Punjab National Bank said the bank has issued and allotted Rs 1500 crore Tier-II (Basel III Compliant) Capital Bonds at a coupon of 8.15% per annum on private placement basis.
H.G. Infra Engineering said it has been declared L-1 bidder by the National Highways Authority of India for the construction of proposed Rewari Bypass (NH-1l) as Feeder Route in Rewari district in the state of Haryana (Design length - 14.40 km) on Hybrid Annuity Mode amounting to Rs 522.02 crore.
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