Peninsula Land fell through five% to Rs. 3.98, after downward revision of credit rating of organisation’s Non-Convertible Debenture (NCDs) worth Rs. Ninety crore to BWR BBB-.
The Company’s Credit Rating has been revised downwards to BWR BBB- for Rs. 90 crore NCDs. The score employer has stated that the downward revision within the score, is due to slow call for in real estate area and relatively gradual bookings and funding dangers associated with the Company’s ongoing initiatives. There is a slowdown in the sale and collection of the continued initiatives because of susceptible financial environment and put off in obtaining OC (Occupancy Certificate) in considered one of tasks.
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