Credit rating agency, CARE has revised BBB+ rating of Rs 105 crore long term bank facilities of Vascon Engineers. The rating agency has also revised Rs 250 crore short term bank facilities of the company to PR3+ from PR3.
The ratings’ revision takes into account the improvement in the liquidity and leverage position of the company subsequent to its successful initial public offer (IPO). The ratings continue to derive strength from the company’s experienced promoters, its track record in execution of engineering, procurement and construction (EPC) contracts, its strong revenue visibility and the positive outlook for the construction industry.
Vascon Engineers has significant experience of 23 years in providing EPC services, which include, constructing factories, hospitals, hospitality properties, office and residential complexes, shopping malls, multiplexes, IT parks and other buildings. The company provides EPC services for own projects as well as to third parties.
Company Name | CMP |
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Larsen & Toubro | 3647.80 |
Rail Vikas Nigam | 427.50 |
NCC | 284.75 |
KEC International | 1207.00 |
Kalpataru Projects | 1254.65 |
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