CARE assigns ‘A’ and ‘PR1’ ratings to Diamond Power Infrastructure’s bank facilities

Credit rating agency, CARE has assigned ‘A’ rating to Rs 475 crore long term bank facilities of Diamond Power Infrastructure. The rating agency has also assigned ‘PR1’ rating to short term bank facilities of the company.

The rating factors in the company’s strength as a vertically integrated player in transmission and distribution infrastructure segment, augmented net worth base with sustained equity infusion during the past three years.

The company is engaged in the manufacture of various types of aluminium conductors, low-tension (LT) and high-tension (HT) power cables, transmission towers and transformers (through its subsidiaries). This makes the company one of the largest integrated power transmission and distribution (T&D) equipment manufacturers and service providers.