Credit rating agency, ICRA has revised rating of BGR Energy Systems’ fund based limits worth Rs 3237 crore to ‘BBB+’ while, the rating agency has revised the company’s non fund based limits worth Rs 9326 crore to ‘BBB+’. Further the company has received the rating revision of ‘A2’ from ICRA for its non fund based limits worth Rs 45 crore.
BGR Energy Systems 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.
