February 17, 2015
Mumbai
Tantia Constructions Limited
 
Ratings Withdrawn
 
Total Bank Loan Facilities Rated Rs.10600 Million
Long Term Rating Withdrawal
Short Term Rating Withdrawal
(Refer to Annexure 1 for Facility-wise details)

CRISIL has withdrawn its ratings on the bank loan facilities of Tantia Constructions Ltd (TCL). The ratings have been withdrawn following the expiry of the required notice period. CRISIL had placed the ratings on 'Notice of Withdrawal' on August 14, 2014, after receipt of request from TCL to that effect. The rating action is in line with CRISIL's policy on withdrawal of its ratings on bank loan facilities.

About the Company

TCL, incorporated in December 1964, is one of the leading infrastructure industry players in eastern India. The company specializes in executing large and complex projects in the transport and urban infrastructure segments. The projects it has executed in the past include roads, railway tunnels, river bridge construction, sewerage systems, and solid waste management.
 
TCL is promoted by Mr. I P Tantia and is listed on both Bombay Stock Exchange and National Stock Exchange.

Annexure 1 - Details of various bank facilities
Current facilities Previous facilities
Facility Amount (Rs.Million) Rating Facility Amount (Rs.Million) Rating
Bank Guarantee 5588 Withdrawal Bank Guarantee 5588 CRISIL A4+(Notice of Withdrawal)
Cash Credit 4250.7 Withdrawal Cash Credit 4250.7 CRISIL BB+/Stable(Notice of Withdrawal)
Proposed Long Term Bank Loan Facility 761.3 Withdrawal Proposed Long Term Bank Loan Facility 761.3 CRISIL BB+/Stable(Notice of Withdrawal)
Total 10600 -- Total 10600 --
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February 17, 2015

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