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-CARE upholds Gharpure Engineering & Constructions' ratings.

BANKING AND CREDIT NEWS-June 10, 2011--CARE upholds Gharpure Engineering & Constructions' ratings(C)2011 M2 COMMUNICATIONS

10 June 2011 - Rating agency CARE yesterday reaffirmed the ratings assigned to the long and short-term bank facilities of Indian civil engineering company Gharpure Engineering & Constructions Pvt Ltd at BBB+ and PR3+, respectively.

The ratings mirror the highly-experienced promoters of the company, its healthy order book position, its improved net worth in fiscal 2010 and the positive industry outlook.

These strengths were partially offset by the relatively small scale of operations of the company. regional concentration in Maharashtra and its low-margin construction projects.

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Publication:M2 Banking & Credit News (BCN)
Date:Jun 10, 2011
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