Ind Ra reaffirms JSW Energy-led Jaigad PowerTransco's bank loans at 'AA/Stable'

29 Jun 2022 , 03:15 PM

JSW Energy Limited has informed that India Ratings and Research (Ind-Ra), on June 28, 2022, has reaffirmed the rating of the long term fund based working capital facilities of Jaigad PowerTransco Limited (JPTL), a subsidiary of the Company.

As per the press release the ratings are reaffirmed as ‘IND AA/Stable’ and Ind Ra has withdrawn JPTL’s term loan rating.

The affirmation reflects JPTL’s robust availability track record since the commencement of operations in 2010, along with a comfortable financial performance with stable EBITDA and receivable days at FYE22.

Moreover. the project has prepaid the entire term debt with its surplus cash, resulting in a significant improvement in the credit metrics.

At around 3:15 PM, JSW Energy was trading at Rs216.20 per share down by Rs3.4 or 1.55% from its previous closing of Rs219.60 per share on the BSE.