Acme Solar Holdings Limited has informed the Exchange regarding 'Credit Rating - ACME Raisar Solar Energy Private Limited'.
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Crisil Ratings has reaffirmed the long-term bank facility rating of 'Crisil AA-/Stable' for ACME Raisar Solar Energy Private Limited, a wholly owned subsidiary of Acme Solar Holdings. The total bank loan facilities rated stand at Rs. 1,100 crore, enhanced from the earlier Rs. 890 crore. This means the subsidiary's credit quality remains strong at investment grade with a stable outlook, and lenders have increased the sanctioned credit limit by Rs. 210 crore. The rating rationale is available on Crisil's website for further reference.
Positive for shareholders — rating reaffirmation at AA-/Stable signals continued strong creditworthiness of the subsidiary, and the Rs. 210 crore enhancement in bank facilities gives it more headroom to fund solar projects without needing fresh equity.