Care downgrades DB Realty arm's bank facilities

Rating firm Care Ratings has downgraded the ratings for Rs 73 crore long term bank facilites of Neelkamal Realtors and Builders, a unit of DB Realty group.

Care has revised the ratings 'CARE BB'  to 'CARE D' due to delays in servicing of the company's debt obligations due to inadequacy of lease rentals from retail mall Orchid City Centre Mall in Mumbai.