CARE upgrades Long Term Rating of Suzlon Global Services to A (Provisional)

Key Highlights:
· Rating upgraded by 1 notch to A (Provisional) with stable outlook for proposed long term bank facilities

· Higher rating is indicative of strong credit profile of SGSL which has about ~11.30 GW of assets under its service

Kirti Vagadia, Group Chief Financial Officer, said: “The upgrade in the credit rating is a testament of our continuous efforts towards improving overall operating performance along with strict financial discipline. The higher rating is indicative of strong credit profile of SGSL which has about ~11.30 GW of assets under service in India and constantly growing risk free annuity like cash flows. Suzlon’s established track record of over two decades, end-to-end solutions, diverse customer base, technology, pan-India presence, superior service capabilities, long tenure contracts and strong leadership position, gives further impetus to stakeholder confidence in our capabilities to significantly scale-up operations in the future.”

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Source: Suzlon