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Inox Wind gets 'AA-' rating for long-term bank facilities

Press Trust of India  |  New Delhi 

Wind energy solutions provider Inox Wind today said rating agency has reaffirmed the 'AA-' rating for its long-term facilities.

The rating agency has also reaffirmed 'A1+' rating for the company's short-term loan facilities, it said in a filing.

"AA rating for long-term instruments is the second highest rating accorded by for long-term facilities and reflects high degree of safety regarding timely servicing of financial obligations and very low credit risk," Inox Wind said.

Inox Wind is one of the select few companies in to be given the AA or higher rating. Crisil's A1 rating is the highest rating given for short-term facilities and reflects instruments with the highest degree of safety and lowest credit risk, it said.

believes Inox Wind is well placed to capitalise on the long-term opportunities given its cost competitiveness and established market position under the auction regime. The reaffirmation of ratings reflects Inox Wind's leading market position and robust execution capabilities, it added.

Inox Wind is India's leading wind energy solutions provider servicing IPPs, utilities, PSUs, corporates and retail investors.

It is a fully integrated player in the wind energy market with three state-of-the-art manufacturing plants in Gujarat, Himachal Pradesh and Madhya Pradesh with a cumulative manufacturing capacity of 1,600 MW annually.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, June 14 2017. 12:07 IST