Credit rating agency, CARE has reaffirmed ‘AA+’ rating to Gujarat State Petronet’s long term bank facilities worth Rs 1206.71 crore. The rating agency has also reaffirmed ‘A1+’ rating to the company’s short term bank facilities worth Rs 100 crore.
The ratings continue to take into account the company’s position as one of the largest players in the gas transmission business in India together with its leadership position in Gujarat having strategic location with connection to all major natural gas supply sources along-with GSPL’s synergies with strong parent in the group’s integrated gas business.
Gujarat State Petronet, a GSPC Group company is a pioneer in developing energy transportation infrastructure and connecting natural gas supply sources including LNG terminals to growing markets. GSPL is continuously expanding its pipeline network currently in Gujarat to reach the demand centres by laying gas pipeline network.
