CARE Ratings Withdraws BB+ Rating on Peninsula Land Bank Facilities
PENINLAND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CARE Ratings has withdrawn its BB+ Stable rating on Peninsula Land's long-term bank facilities at the company's request, supported by lender NOCs. The underlying rating, which is below investment grade, was downgraded from BBB- in July 2025. FY26 financials show net loss widening to Rs 153.7 crore from Rs 25.3 crore, revenue falling to Rs 141.25 crore, and overall gearing rising sharply to 6.80x from 2.19x. The company fully redeemed Rs 150 crore OCDs in Dec 2025 and wrote off Rs 40 crore investments.
Withdrawal limits public rating visibility. Underlying junk-level BB+ status, high gearing, tenant concentration, and August 2026 lease renewals remain key risks.