Credit rating agency -- Crisil has upgraded rating for Inox Wind’s long-term bank facilities to 'A/Stable' from 'A-/Stable', while rating for its short-term bank facilities upgraded to ‘A1’ from ‘A2+’.
CRISIL’s rating upgrade reflects the improvement in company’s business risk profile on account of substantial improvement in operating performance. Further, the company’s deleveraging efforts through equity raise significantly improves its financial risk profile. Going ahead, a healthy net order book of 2.7 GW as of May 31, 2024 provides large revenue growth visibility and sustained profitability for the company, supported by policy tailwinds in the wind sector.
Inox Wind is India’s leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate Investors.
