Websol Energy System Ltd.

Credit rating agency, Credit Analysis & Research (CARE) has reviewed the rating assigned to the Websol Energy System based on the recent development and financial performance of Financial Year 2012. Pursuant to this, the rating agency has decided to suspend the ratings assigned to the bank facilities availed by the company.

Earlier, CARE had assigned the rating of ‘C’ to the long term bank facilities of the company. Similarly, the agency had also assigned ‘A4’ to the short term bank facilities of the company.

Websol Energy Systems is a leading producer of Solar Photovotaic Cells and Modules in India. It is one of the fastest growing companies within the solar photovoltaic industry in India with a 30 per cent annual growth rate and a 10 MW manufacturing facility for cells and modules.