Pursuant to Regulation 30 read with schedule III of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, we wish to inform you that CARE Ratings Limited (CARE) ....
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CARE Ratings has upgraded the credit ratings for the bank facilities of Insolation Energy's wholly owned subsidiary, Insolation Green Energy Private Limited. Long-term bank facilities were upgraded from CARE BBB; Stable to CARE BBB+; Stable, and long-term/short-term bank facilities moved from CARE BBB; Stable / CARE A3+ to CARE BBB+; Stable / CARE A2. The amount on long-term bank facilities was also reduced from Rs. 12.34 crore to Rs. 11.14 crore, while the combined long-term/short-term facility stands at Rs. 135 crore. This reflects improved creditworthiness of the subsidiary as assessed by CARE.
Positive for shareholders — the rating upgrade signals stronger financial health and lower perceived risk for the subsidiary, which could help it borrow at better rates and boost consolidated group credit profile.