The amount was enhanced to Rs 100 crore from Rs 50 crore.
A1 is the highest credit-quality assigned by ICRA to short-term debt instruments. Instruments in this category carry the lowest risk in the short-term, a press release issued here stated.
The ratings take into consideration the company's long track-record in executing infrastructure projects, its strong order-book position, which along with the buoyant outlook on the sector is expected to lead to healthy growth in its revenues and profitability, the release said.
ICRA's ratings are however constrained by the highly-competitive nature of the industry.
The company's medium-scale of operations and its increasing investments in BOT projects exposes it to operational risks besides the challenges involved in scaling up its resources for the successful execution of the current large order-book, the release said.
Going forward, ICRA said it expects an increase in the funding requirement of the company, both on account of increased investments in BOT projects as well as the capex requirements to execute its growing order-book.
