Key Highlights:
· CARE BBB+ credit rating assigned for fund based Working Capital and Term Loan facilities
· CARE A3+ credit rating assigned for Non Fund Based Working Capital Limits
Kirti Vagadia, Group Chief Financial Officer, Suzlon Group said: “SEForge has demonstrated tremendous growth over the years. Within a decade it has grown from a captive supplier to Suzlon to become an independent entity as one the world’s leading supplier of large and high-precision castings and forgings. The rating upgrade is a testament of our concerted efforts to ramp up volumes, diversify across sectors and geographies, cost
rationalisation and improved profitability. We will endeavour to maintain the growth momentum.”
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