Credit rating agency, CARE has reaffirmed ‘BBB+ (stable)’ rating to BGR Energy Systems’ long term bank facilities worth Rs 3614 crore. The rating agency has also reaffirmed ‘BBB+ (stable)/ A2’ rating to company’s Long-term /Short-term bank facilities worth Rs 6874 crore.
The ratings assigned to the bank facilities of BGR Energy Systems (BGRE) continue to factor in the company’s long operational track record, its established position in the power projects business with demonstrated project execution track record, in-house design and engineering capabilities for most of the BOP sub-systems, stable financial performance during FY16 (refers to the period April 1 to March 31) and the favourable long-term business prospects in the power sector in India.
