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BANKING AND CREDIT NEWS-September 9, 2010--CARE gives BB- to India Land KGISL Tech Park's bank facilities(C)2010 M2 COMMUNICATIONS
9 September 2010 - India's credit rating agency CARE said Wednesday it had assigned a BB- rating to the long-term bank facilities of India Land KGISL Tech Park Pvt Ltd.
The rating is constrained by the delays in interest servicing of bank loans by India Land KGISL Tech Park during financial 2010 due to the liquidity crunch as a result of the downturn in the economy and substantial delay in the execution of Phase I of the project.