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S&P
BSE SENSEX
73,088.33
+599.34
+0.83 %
Corporate Announcement
Security Code
532832
Company
Indiabulls Real Estate Ltd
Exchange Received Time
30/10/2019 18:27:23
Exchange Disseminated Time
30/10/2019 18:27:31
Time Taken
00:00:08
Announcement under Regulation 30 (LODR)-Credit Rating |
10/30/2019 6:27:24 PM
This is to inform that the rating committee of the rating agency Infomerics Valuation and Rating Pvt. Ltd. ('Infomerics') has assigned long-term rating of 'IVR AA-/Stable Outlook' (IVR Double A Minus with Stable Outlook) to long-term fund based borrowings and 'IVR A1+' (IVR A1 Plus) to short term borrowings/instruments of Indiabulls Real Estate Limited ('IBREL or the Company').
Infomerics cited the following in assigning the ratings:
IBREL''s capital structure has seen a substantial improvement in the recent years. With business strategy focusing on an asset-light model, the Company has divested much of its properties and assets and reduced its debt from the sales proceeds.
Adequate liquidity characterized by sufficient cushion in accrual vis-a-vis repayment obligations and moderate cash balance.
The rating derives strength from the Indiabulls Group being a diversified group with experienced promoters, improving capital structure and available land bank.
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