CRISIL reaffirms credit ratings on South West Pinnacle's bank facilities

South West Pinnacle’s standalone business and financial risk profiles have been considered as part of this rating exercise.

Jun 08, 2021 03:06 IST India Infoline News Service

CRISIL Ratings has reaffirmed its ratings on the bank facilities of South West Pinnacle Exploration Limited at ‘CRISIL BBB/Negative and CRISIL A3+’.

The ratings continue to reflect the company’s strong technical expertise in drilling and exploration and its diversified customer base.

These strengths are partially offset by large working capital requirement and the tender-based nature of business.

South West Pinnacle’s standalone business and financial risk profiles have been considered as part of this rating exercise.

On Tuesday, South West Pinnacle ended at Rs37.95 per piece down by 1.81% on NSE.

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