Infomerics Upgrades Patel Engineering Credit Rating to A from A minus
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Patel Engineering announced that Infomerics Ratings has upgraded its credit ratings. The long-term rating moved up from A minus to A, and the short-term rating improved from A2+ to A1. The upgrade reflects strong financial performance, an improved liquidity profile, and robust business fundamentals. Management highlighted disciplined financial management, a healthy order book across dams, tunnels, hydro and urban infrastructure projects, and balance sheet strengthening as key factors behind the revision.
Higher rating may reduce borrowing costs, improve access to capital markets, and boost investor and lender confidence in the company.