Credit rating agency, CARE has reaffirmed ‘AA+’ rating assigned to Gujarat State Petronet’s long term bank facilities worth Rs 879.85 crore and ‘A1+’ rating assigned to company’s short term bank facilities worth Rs 100 crore. The rating agency has also reaffirmed ‘AA+/A1+’ rating assigned to the company’s Long-term/Short-term bank facilities worth Rs 2800 crore.
The ratings continue to derive strength from Gujarat State Petronet’s (GSPL’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 the GSPC (Gujarat State Petroleum Corporation) group which has presence across the energy (gas) value chain. GSPL’s open access operating model, favourable capital structure, healthy profitability and comfortable liquidity further acts as strong credit positives.
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.
| Company Name | CMP |
|---|---|
| GAIL India | 165.60 |
| Gujarat Gas | 383.05 |
| Indraprastha Gas | 164.55 |
| Mahanagar Gas | 1129.20 |
| Adani Total Gas | 627.00 |
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