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Infomerics downgraded credit ratings for Kings Infra Ventures' bank facilities and NCDs, citing non-cooperation. The rating action applies to existing debt instruments.
Kings Infra Ventures Limited received credit ratings from CRISIL for ₹128.6 Crore in debt instruments. Bank facilities of ₹70 Crore were reaffirmed at CRISIL BB/Stable and CRISIL A4+. Various Non-Convertible Debentures totalling ₹58.6 Crore also received ratings, including a new assignment of CRISIL BB/Stable for a ₹25 Crore NCD tranche.