Sunteck Realty announced that CARE Ratings has revised the credit ratings as follows -
Long Term Bank Facilities Term Loan (Rs 516 crore) - CARE AA-; Negative*
Long Term Bank Facilities Fund based (Rs 533 crore) - CARE AA-; Negative*
Short Term Bank Facilities Non-Fund based (Rs 10 crore) - CARE A1+ ; Reaffirmed
Commercial Papers (Rs 100 crore) - CARE A1+ ; Reaffirmed
* The revision in the outlook from Stable to Negative reflects expected moderation in the credit risk profile of entities involved in the real estate development owing to the ongoing lockdown in the country implemented by the central government towards containment of COVID-19.
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