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Tuesday, July 22, 2014

CARE Assigns CARE BBB Rating To The Bank Facilities of Adani Estates

CARE Rating Agency has assigned CARE BBB [Triple B] rating to Long-term Bank Facilities for the amount of Rs 150 crore of Adani Estates Pvt. Ltd. 

The rating derives strength from the strong parentage of Adani Estates Pvt. Ltd. (AEPL) and presence of the Adani group in diversified businesses. The rating also factors in the experience and established track record of the group in construction and real estate sector, low project gearing, location advantage of the project and multiple apartment configuration options along with various amenities being provided by the project. 

The rating, however, is constrained by the implementation and saleability risks associated with the ongoing project as it is at a nascent stage of development and inherent risks associated with the real estate sector. AEPL's ability to successfully complete its ongoing project within envisaged cost and time parameters and sale of the units at envisaged price are the key rating sensitives.
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