Credit rating agency, Credit Analysis & Research (CARE) has assigned ratings to banking facilities of BGR Energy Systems. The credit rating agency has assigned ‘BBB+’ rating to the Long-term bank facilities amounting Rs 3,111 crore. The agency has also assigned ‘BBB+/A2’ rating to Long/Short term bank facilities amounting Rs 8,590 crore.
BGR Energy Systems is engaged in supplying of systems and equipment and contracting turnkey engineering project. The company started as a joint venture between GEA Energietechnik GmbH, Germany and the promoter B G Raghupathy in order to produce and sell on-line condenser tube cleaning systems, debris filters and rubber cleaning balls used in thermal and nuclear power plants.
