From CARE Ratings
Gayatri Projects announced that CARE ratings has upgraded its credit ratings for bank facilities from D to BB- with a stable outlook.The rating upgrade takes into account the improvement in the liquidity position of the company with recovery of debtors and equity infusion through QIP, leading to regularisation of debt servicing. The rating also factors in the experience of the promoter group and the Company's established track record. The upgrade also takes into account GPL's improved financial performance in FY18 and its healthy and diversified Order book.
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