Sadbhav Engineering Limited (SEL) has received a credit rating downgrade for its Rohtak-Hisar project (executed under Sadbhav Infrastructure Project Limited, SIPL) on account of delay in debt servicing. The project commenced tolling (FY2019 tolling revenue of Rs. 65 crore) since July 2016, which has not been sufficient enough for debt obligations (interest plus principal payment, Rs. 110 crore for FY2019). SIPL has infused Rs. 277 crore, including equity in the project till FY2019, and has been intimating NHAI about the presence...