-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 http://www.m2.com
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.
((Comments on this story may be sent to email@example.com))
|Printer friendly Cite/link Email Feedback|
|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Jun 8, 2011|
|Previous Article:||-Moody's withdraws covered bond ratings on European banks' programmes.|
|Next Article:||-Moody's puts Universal Orlando on upgrade review.|