Renewable energy IPP with 400MW operational capacity earns AA− for stable cash flows under PPA — PreRatings
Infrastructure Developer — Long Term AA−
Pharma Manufacturer — Long Term AA+
Regional NBFC — NCD Rating BBB+
Steel Producer — Bank Loan A
Textile Exporter — Long Term BB+
Auto Component Mfr — Short Term A1+
Cement Producer — Long Term AA
Chemical Exporter — IPO Grading A−
Infrastructure Developer — Long Term AA−
Pharma Manufacturer — Long Term AA+
Regional NBFC — NCD Rating BBB+
Steel Producer — Bank Loan A
Textile Exporter — Long Term BB+
Auto Component Mfr — Short Term A1+
Cement Producer — Long Term AA
Chemical Exporter — IPO Grading A−
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Renewable energy IPP with 400MW operational capacity earns AA− for stable cash flows under PPA

24 Jul 2026 Rating PreRatings Research
25-year PPAs with state discoms provide revenue visibility. Debt service coverage ratio of 1.65x exceeds lender requirements. Diversified across solar (280MW) and wind (120MW).
Energy & Power Project Finance