Business Standard

Saturday, December 21, 2024 | 07:39 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Sadbhav Infra hits record low as CARE downgrades subsidiary's credit rating

The ratings agency downgraded the company due to "sustained subdued toll collection" against large debt obligations

Sadbhav Infrastructure Projects IPO: Fairly valued but high debt a concern
Premium

SI Reporter Mumbai
Shares of Sadbhav Infrastructure Projects (SIPL) tanked 18 per cent to hit a record low of Rs 59 on the BSE on Friday after Care Ratings downgraded the credit rating of the firm's wholly-owned subsidiary, Rohtak-Hissar Tollway Private Limited (RHTPL), from 'BB+' to 'D'.
 
The ratings agency downgraded the company due to "sustained subdued toll collection" against large debt obligations. The subsequent poor liquidity and weak debt coverage indicators led to overdues in the account (as per lender’s feedback) for debt servicing.

"There are overdues in the account of RHTPL in servicing its debt obligations upto 15 days... Toll collection of

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in