Credit Analysis & Research (CARE) has reaffirmed BBB+ rating assigned to Jaiprakash Power Ventures’ long term bank facilities of Rs 16,632.49 crore (enhanced from Rs 8,823.83 crore). This rating is applicable to facilities having tenure of more than one year. Instruments with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations. Such instruments carry moderate credit risk.
Further, the rating agency has assigned A (SO) rating to Zero Coupon Non-Convertible Debentures (ZCD)-I aggregating Rs 999.98 crore and ZCD-II aggregating Rs 982.59 crore. Instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.
