Credit rating agency, CRISIL has upgraded its rating on the long-term bank facilities of Gujarat Gas to ‘AA+/Stable’ from ‘AA/Positive’. The upgrade reflects CRISIL's expectations of an improvement in the company’s credit profile over the medium term. Sustainable improvement in cash accruals is expected to improve the company’s financial risk profile notwithstanding the sizeable capital expenditure (capex) programme.
Gujarat Gas (formerly Gujarat Gas Company) is engaged in processing, transmission, and distribution of natural gas. It supplies gas to industrial, commercial and domestic customers.
