Credit rating agency, CARE has assigned ‘AAA’ rating to Indraprastha Gas’ Long-term Proposed Bond Issue worth Rs 400.00 crore.
The rating takes into considerations IGL strong parentage and professional management team, dominant position in the city gas distribution (CGD) business in the National Capital Territory (NCT) of Delhi and comfortable financial risk profile. The rating also derives strength from its robust and improving infrastructure base, gas sourcing tie-up in place and favourable demand outlook of the CGD business.
Indraprastha Gas, incorporated in 1998, is engaged in distribution of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in Delhi. In 1999 the company took over Delhi City Gas Distribution Project from GAIL (India). IGL laid the network for the distribution of natural gas in the National Capital of Delhi to consumers in the domestic, transport, and commercial sectors.
