PNC Infratech Limited has informed the Exchange about Credit Rating- Reaffirmation of Rating of Subsidiary Company
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PNC Infratech has informed the exchanges that CARE Ratings has reaffirmed the credit rating on long-term bank facilities of its subsidiary, Kanpur Lucknow Expressway Private Limited. The rating stands at CARE A with a Stable outlook, covering bank facilities of Rs. 779.75 crore. Reaffirmation means CARE has reviewed the subsidiary and concluded that its credit quality remains unchanged. No upgrade or downgrade was assigned, and the rating remains in the investment-grade category.
This is a neutral-to-mildly positive signal for shareholders. Reaffirmation of an investment-grade rating (CARE A; Stable) suggests the subsidiary's debt servicing ability and financial health are viewed as steady by the rating agency, which supports continued access to bank funding for the Kanpur-Lucknow expressway project.