Goswami Infratech Debt Downgraded Amid Refinancing Delay
CareEdge lowered Goswami Infratech's rating to B+ citing delays in a three billion dollar fundraising effort. The firm extended its debt repayment to June 30.
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CareEdge downgraded Goswami Infratech's debt to B+ as the India-based firm struggles to finalize a $3.1 billion refinancing package. The rating fell from BB- after the Shapoorji Pallonji Group unit delayed fundraising targets due to rising currency hedging costs. Investors face mounting refinancing risks as the company extends high-yield debt deadlines to avoid a liquidity crunch.
