JSW Energy Ltd.

Credit rating agency, CARE has reaffirmed ‘AA-’ rating to JSW Energy’s long term bank facilities worth Rs 2971.39 crore. The rating agency has also reaffirmed ‘A1+’ rating to the company’s short term bank facilities worth Rs 4327 crore.

The ratings continue to derive strength from the strong promoter group having considerable experience in setting up and operating thermal power plants, successful implementation of projects and stabilization of operations at its Vijaynagar and Ratnagiri plants, healthy cash and bank balance, revenue visibility to the extent of presence of long-term off-take agreements for 730 MW and short-term agreements upto June 2015 for 730 MW and power-deficit scenario in the country.

The company sells power through a combination of long-term and short-term power purchase arrangements and through the power exchanges in India to state-owned utilities, power trading companies and some industrial consumers.