rating agency CARE has assigned an investment grade credit rating to its outstanding banks facilities
as well as to the proposed commercial paper instrument. The rating is valid until September 15,
2016. Below schedule gives the facility wise rating:
Particulars                        Amount (Rs. Crs)      Rating Assigned
Long Term Rupee Denominated      2,744                 BBB-
Term Loans Fund Based Working     2,192                  BBB-Â
Capital LimitsÂ
TotalFund Based                   4,936
SBLC Backing AERH Bonds         3,928                 BBB-
Non Fund Based WorkingÂ
Capital Limits                     5,622                 A3
Total Non-Fund Based               9,550
Proposed Commercial Paper         1,000                A3
Speaking on the occasion, Mr. Kirti Vagadia, Chief Financial Officer, Suzlon Group said: âWe are
pleased to announce that we have been upgraded to Investment grade (BBB-) from D rating (in
2012). The rating clearly demonstrates our restored credibility on account of significant deleveraging,
strong industry outlook, our sizable order-book, order pipe-line and strong operating performance.
We have maintained strict discipline from the beginning of the current financial year towards timely
payment of all our financial obligations.
While a strong credit profile definitely helps in getting timely and cost effective finance, it is also a big credibilityÂ
booster for various stakeholders, which is extremely critical in our industry.
Governmentâs clear thrust on renewables and our constant efforts to bring down the cost of energy
has resulted into favorable business outlook. We are committed to create maximum stakeholder
value by relentlessly working towards powering a greener tomorrow.â
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