Latest News | Ind-Ra Upgrades Capacit'e Infraprojects Long-term Issuer Rating to Stable

New Delhi, Nov 26 (PTI) Capacit'e Infraprojects Limited on Friday said ratings agency Ind-Ra has upgraded its long-term issuer rating to stable.

"India Ratings and Research (Ind-Ra) has improved its Long-Term Issuer Rating to IND BBB which is stable from IND D which was defaulter (assigned earlier)," the construction firm said in a statement.

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The upgrade revalidates company's financial positioning and focus on balance sheet growth, Capacit'e Infraprojects Executive Director and CFO Rohit Katyal said.

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The company will now focus on strengthening the rating further in the near future, he said.

"Our solid order book, expansion plans, and efficiency demonstrate that we will continue to strengthen our market position," Katyal said.

Capacit'e Infraprojects provides end-to-end construction services for housing, commercial hospitals, hotels and industrial projects.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)