Credit rating agency ICRA has reaffirmed ratings for the bank facilities of Rs 9096 crore availed by BGR Energy Systems. The rating agency has also revised the outlook from stable to negative.
BGR Energy Systems (BGRESL) 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.
