CRISIL upgrades short-term rating to A2; bank facility enhanced to Rs 650 cr
RTNPOWER · price
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CRISIL upgraded RattanIndia Power's short-term bank facility rating to Crisil A2 from Crisil A3+. The total rated bank facilities were also enhanced from Rs 550 crore to Rs 650 crore. The upgrade reflects improved plant load factor of 82 percent in FY26 (vs 78 percent in FY25), plant availability above 85 percent, nil long-term external debt, and healthy cash balance of Rs 276 crore. EBITDA stood at Rs 410 crore in FY26. Some legal matters remain monitorable, including a dismissed REC insolvency petition and pending OCCRPS due December 2026.
Positive signal on creditworthiness; lower borrowing costs likely and stronger banking relationship, though litigation overhangs stay as risks.