CRISIL has reaffirmed ‘D/D’ rating on the bank facilities and commercial paper (CP) programme of Tecpro Systems (TSL). The rating continues to reflect ongoing instances of delay by the company in meeting its debt obligations.
The delays in repayment are on account of the company’s stretched liquidity. The group’s liquidity is expected to remain under pressure over the medium term because of its significant losses and stretched receivables.
Tecpro System provides comprehensive range of services in coal handling and Ash handling, balance of plant packages for power sector and material handling to steel, cement, ports and mining and other industries in infrastructure sector.
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