The rating outlook on six units of Suzlon Energy was changed to negative from stable by Crisil on concerns of higher gearing (debt-equity ratio) and global slowdown.
The rating agency revised the outlook on Suzlon subsidiaries — Suzlon Electricals, Suzlon Wind International, Suzlon Towers and Structures, Suzlon Generators, Suzlon Power Infrastructure and Suzlon Infrastructure Services. On November 6, Crisil had downgraded the outlook on Suzlon Energy from stable to negative.
The share price of wind energy major Suzlon fell by 13.78 per cent on a volatile Bombay Stock Exchange (BSE) today to close the day at Rs 50.45 from yesterday’s closing of Rs 68.95.
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