Mumbai, April 13 -- The agency has also affirmed the company's short-term rating at 'CARE A3+'.

CARE Ratings stated that the reaffirmation of the ratings assigned to the bank facilities of Dredging Corporation of India (DCIL) continues to derive strength from its established presence of nearly five decades in domestic and overseas dredging services, strong parentage with shareholding held by major ports of the country, and a growing order book providing medium-term revenue visibility.

The rating favourably factors in the support extended by the sponsors in form of funds extended via work advances and unsecured loans for dredger acquisition and settlement of liabilities. Promoter support is expected to continue in the near term to suppor...