Ind-Ra reaffirms credit rating of JSW Energy's significant arm to ‘IND-AA'

2 Jun 2022 , 02:10 PM

JSW Energy Limited informed that India Ratings and Research (Ind-Ra) has reaffirmed the rating of the long-term fund based facilities of JSW Hydro Energy Limited (JSWHEL) as ‘IND AA’. It has given a stable outlook for the same.

Ind-Ra has taken a consolidated view of JSWHEL and its 100% parent JSW Energy Limited (JSWEL, ‘IND AA’/Stable), and the latter’s subsidiaries while arriving at the ratings, given the strong operational and strategic linkages among them.

The rating agency has withdrawn the short-term ‘IND A1+’ rating assigned to JSWHEL’s term loan worth Rs5,172.10 crore. The rating has been withdrawn because the company has prepaid all outstanding term loans by raising USD 707 million in green bonds.

Ind-Ra has reviewed total bank facilities worth Rs310 crore.

JSW Energy is currently trading at Rs265 up by Rs0.15 or 0.06% from its previous closing of Rs264.85 on the BSE. The scrip touched intraday high and low of Rs272.95 and Rs264 respectively.