B.L.Kashyap & Sons receives ratings action from CRISIL

Kashyap & Sons announced that CRISIL has assigned the credit ratings CRISIL D for bank loan facilities amounting to Rs 625 crore after removing Issuer not Cooperating clause.

The ratings reflect instances of delays in debt servicing in the past along with stretched liquidity as reflected in full utilisation of working capital facilities. Also, the account(s) with certain lender(s) are classified as non-performing (NPA) as on date. The ratings factor in large working capital requirements of the BL Kashyap Group and its susceptibility to cyclicality in the real estate sector.

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