Gayatri Projects receives ratings downgrade due to delays in debt servicing

Gayatri Projects has received revision in credit ratings for bank facilities aggregating Rs 6544.93 crore as under -

Long term bank facilities - CARE D
Long term / short term bank facilities - CARE D/ CARE D

The revision in the ratings assigned to the bank facilities of Gayatri Projects Limited (GPL) is on account of stretched liquidity position of the company due to delays in receipt of receivables leading to cash flow mismatch resulting in delays in debt servicing.

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