PNC Infratech Limited announced that Care Ratings Limited has reviewed the credit rating for its subsidiary, Awadh Expressway Private Limited. The long-term bank facilities for Awadh Expressway have been assigned a rating of CARE A+ (RWD), with the rating placed on watch with developing implications. The amount for these facilities stands at ₹757.43 crore, a slight reduction from the previously reported ₹776.85 crore.
Subsidiary Credit Rating Update
PNC Infratech Limited has disclosed that Care Ratings Limited has completed a review of the credit rating for its subsidiary, Awadh Expressway Private Limited. This review pertains to the long-term bank facilities extended to the subsidiary.
Rating Details and Implications
The updated rating assigned by Care Ratings is CARE A+ (RWD). Importantly, the rating has been placed on watch with developing implications, suggesting potential future changes that warrant close observation by stakeholders. The total amount outstanding for these facilities is ₹757.43 crore. This figure represents a slight decrease from the previously reported amount of ₹776.85 crore.
Disclosure Compliance
This information is being shared in accordance with the requirements of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, concerning the review of ratings of subsidiary companies.
Source: BSE
