India Ratings Withdraws Jaiprakash Power Ventures Limited's Bank Loan Facility Rating
India Ratings and Research Pvt Ltd. has withdrawn the credit rating assigned to Jaiprakash Power Ventures Limited's bank loan facilities following a withdrawal request from the company. The specific facility, valued at 5,000 million Rs, had previously held an IND A2+ rating with a Watch outlook.The decision by India Ratings is consistent with the agency's Policy on Withdrawal of Ratings, as Ind-Ra indicated that they are no longer required to maintain coverage for the instrument after receiving the request from JPVL.
Rating Action and Financial Details
The withdrawn facility pertains to bank loan facilities, which were assessed at a size of 5,000 million Rs.The rating history for the bank loan facilities is detailed below:
| Instrument Type | Facility Size (million Rs) | Current Rating/Outlook | Historical Rating/Outlook |
|---|---|---|---|
| Bank loan Facilities | 5,000 | WD (Rating Withdrawn) | IND A2+ |
Company Operations and Background
Jaiprakash Power Ventures Limited (JPVL), established in 1994, operates a power generation capacity of 2,220 MW. This capacity is divided across three facilities: the Bina thermal power plant with 500 MW, the Nigrie thermal power plant providing 1,320 MW, and the Vishnuprayag hydro power plant rated at 400 MW.The company’s promoter structure underwent a recent transition. Jaiprakash Associates Limited (JAL) previously held a 24% stake in JPVL, which has now been acquired by Adani Power Limited.
JPPOWER Stock Price Movement
Shares of Jaiprakash Power Ventures Limited settled today after slipping 0.45% in post-market trading to close at ₹17.78. The stock traded within an intraday range, hitting a low of ₹17.73 and reaching a high of ₹18.00 during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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