Investment13 Jan 2025, 01:17 pm
Inox Wind's Short-Term Facilities Upgraded to Highest Rating by CARE
AI Summary
Inox Wind Limited (IWL), India's leading wind energy solutions provider, announced that Care Ratings (CARE) has upgraded the ratings for the Company’s banking facilities. CARE has ascribed the highest rating of 'CARE A1+' for Short Term Bank Facilities, upgraded from CARE A1. The 'CARE A+ / STABLE' rating was assigned to IWL’s Long Term Bank Facilities, upgraded from CARE A / Stable. These upgrades reflect the improvement in IWL’s business risk profile and substantial improvement in operating and financial performance. IWL's robust order book of ~ 3.5 GW is supported by a large order pipeline, as India surges ahead to add renewable capacities on a massive scale over the next decade.
Key Highlights
- CARE has upgraded the ratings for Inox Wind's banking facilities.
- Inox Wind's Short-Term Bank Facilities rated 'CARE A1+', the highest rating.
- Long Term Bank Facilities rated 'CARE A+ / STABLE', upgraded from CARE A / Stable.
- Rating upgrades reflect the improvement in Inox Wind's business risk profile and financial performance.
- Inox Wind has a robust order book of ~ 3.5 GW with a large order pipeline.