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-CARE keeps rating on Rajesh Estates and Nirman at BB.

BANKING AND CREDIT NEWS-June 8, 2011--CARE keeps rating on Rajesh Estates and Nirman at BB(C)2011 M2 COMMUNICATIONS

8 June 2011 - Rating agency CARE yesterday reaffirmed the BB rating on the long-term bank facilities of Indian real estate developer Rajesh Estates and Nirman Ltd.

The rating is limited by project execution and marketability risks related to the firm's real estate projects, the service said.

The rating, on the other hand, is positively affected by the vast experience of the promoters, the strategic locations of the projects and the low-cost purchase of the entire land, CARE added.

The ability of the company to complete its projects on time will influence the future rating actions by CARE.

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Publication:M2 Banking & Credit News (BCN)
Date:Jun 8, 2011
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