Gayatri Projects gets ratings downgrade for NCD issue

From Brickwork Ratings India

Gayatri Projects announced that Brickwork Ratings India has downgraded rating of the Company's secured redeemable non-convertible debentures (NCDs) of Rs 31.40 crore NCD issue, from BWR A to BWR BB- with Negative Outlook.

The rated amount of the issue was Rs 100 crore, out of which the Company raised only Rs 52 crore.

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