India Ratings Reaffirms and Enhances Rating for Orient Green Power Subsidiary
Orient Green Power Company Limited reported that India Ratings & Research Private Limited has re-affirmed and assigned ratings for the banking facilities pertaining to M/s. Clarion Wind Farm Private Limited, a Step Down Subsidiary. The rating action included an enhancement of the outlook to positive from stable.The enhanced rating reflects the expectation that operational and financial performance for the subsidiary will be sustained in the near term.
Details regarding the assigned and reaffirmed ratings are as follows:
| S.No | Facility | Rated Amount (Rs. in million) | Ratings | Rating Action |
|---|---|---|---|---|
| 1 | Bank Loan Facilities | 39.9 (reduced from 289.3) | IND BBB-/Positive | Affirmed; Outlook revised to Positive |
| 2 | Bank Loan Facilities | 782 | IND BBB-/Positive | Assigned |
The company noted that the rating letter received from India Ratings was provided for records.
GREENPOWER Stock Price Movement
Today, Orient Green Power Company Limited shares edged higher to close at ₹9.89, posting a solid 7.03% gain. The stock saw significant activity today, with 6.77 million shares trading throughout the session.Source:
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