Brickwork Ratings moves Ganesh Housing Corporation Ltd's rating to BWR B- Negative issuer not cooperating

Brickwork Ratings India Pvt. Ltd. vide its letter dated 24th February, 2021 published on its website, has moved the ratings of bank loan facilities (long term) of Ganesh Housing Corporation Ltd from BWR BB- (Negative) to BWR B- Negative Issuer not cooperating.

Brickwork's observations, state that the down grade in the rating is mainly due to further deterioration in operating performance of the company for 9M FY21 leading to EBITDA losses, substantial deterioration in coverage indicators impacting the cash flows and creating uncertainties on the scheduled debt repayment.

Shares of GANESH HOUSING CORPORATION LTD. was last trading in BSE at Rs.53.65 as compared to the previous close of Rs. 51.1. The total number of shares traded during the day was 35522 in over 115 trades.

The stock hit an intraday high of Rs. 53.65 and intraday low of 53. The net turnover during the day was Rs. 1904545.

Source : Equity Bulls

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