CRISIL reaffirms AA rating for Inox Wind's long term bank facilities

Wind energy solution provider Inox Wind today said CRISIL has reaffirmed its AA- rating for the company's long term bank facilities which reflect instruments with high degree of safety.

Additionally, the A1+ rating on the company's short-term bank loan facilities has also been reaffirmed, the company said in a press release.

CRISIL has revised its outlook on the long-term bank facilities of the company to Negative from Stable.

Its AA rating for long term instruments is the second highest rating by CRISIL for long term facilities and reflects instruments with high degree of safety, it said.

Inox Wind is one of the select few companies in India which have been given the AA or higher rating. Less than 5 per cent out of the close to 14,000 firms rated by CRISIL are assigned the AA or higher rating.

The A1 rating is the highest rating for short term facilities and reflects instruments with the highest degree of safety.

The reaffirmation of ratings reflects Inox Wind's leading market position, strong operating efficiency, healthy order book, strong technology tie-ups and robust execution capabilities, it said.