Home Business & Finance India Ratings Migrates Siwana Solar Power Project to Non-Cooperating Category
India Ratings Migrates Siwana Solar Power Project to Non-Cooperating Category

India Ratings Migrates Siwana Solar Power Project to Non-Cooperating Category

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India Ratings and Research (Ind-Ra) has migrated Siwana Solar Power Project Private Limited’s (SSPPPL) Long-Term Issuer Rating to the non-cooperating category. The issuer did not participate in the rating exercise despite continuous requests and follow-ups by the agency. Therefore, investors and other users are advised to take appropriate caution while using these ratings. The rating will now appear as ‘IND BB(ISSUER NOT COOPERATING)’ on the agency’s website. The instrument-wise rating actions are as follows:

Instrument TypeDate of IssuanceCoupon RateMaturity DateSize of Issue (million)RatingRating Action
Term loanJuly 2023INR200IND BB(ISSUER NOT COOPERATING)Migrated to Non-Cooperating Category

Note: ISSUER NOT COOPERATING: The ratings were last reviewed on 19 August 2016. Ind-Ra is unable to provide an update, as the agency does not have adequate information to review the ratings.

COMPANY PROFILE

Incorporated in 2012, SSPPPL operates a 5MW solar photovoltaic power plant in village Mithi, Bhiwani, Haryana under a 25-year power purchase agreement mechanism under the renewable policy of Haryana.

RATING HISTORY

Instrument TypeCurrent RatingsHistorical Rating/Outlook
Rating TypeRated Limits (million)Rating19 August 2016
Issuer ratingLong-termIND BB(ISSUER NOT COOPERATING)IND BB/Stable
Term loanLong-termINR200IND BB(ISSUER NOT COOPERATING)IND BB/Stable

COMPLEXITY LEVEL OF INSTRUMENTS

For details on the complexity level of the instruments please visit https://www.indiaratings.co.in/complexity-indicators.

SOLICITATION DISCLOSURES

Additional information is available at www.indiaratings.co.in. The ratings above were solicited by, or on behalf of, the issuer, and therefore, India Ratings has been compensated for the provision of the ratings.

Ratings are not a recommendation or suggestion, directly or indirectly, to you or any other person, to buy, sell, make or hold any investment, loan or security or to undertake any investment strategy with respect to any investment, loan or security or any issuer.

ABOUT INDIA RATINGS AND RESEARCH

India Ratings and Research (Ind-Ra) is India’s most respected credit rating agency committed to providing India’s credit markets accurate, timely and prospective credit opinions. Built on a foundation of independent thinking, rigorous analytics, and an open and balanced approach towards credit research, Ind-Ra has grown rapidly during the past decade, gaining significant market presence in India’s fixed income market.

Ind-Ra currently maintains coverage of corporate issuers, financial institutions (including banks and insurance companies), finance and leasing companies, managed funds, urban local bodies, structured finance and project finance companies.

Headquartered in Mumbai, Ind-Ra has six branch offices located in Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad and Kolkata. Ind-Ra is recognised by the Securities and Exchange Board of India, the Reserve Bank of India and National Housing Bank.

India Ratings is a 100% owned subsidiary of the Fitch Group.

For more information, visit www.indiaratings.co.in.

DISCLAIMER

ALL CREDIT RATINGS ASSIGNED BY INDIA RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTPS://WWW.INDIARATINGS.CO.IN/RATING-DEFINITIONS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY’S PUBLIC WEBSITE WWW.INDIARATINGS.CO.IN. PUBLISHED RATINGS, CRITERIA, AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. INDIA RATINGS’ CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE, AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE CODE OF CONDUCT SECTION OF THIS SITE.​

Source: indiaratings.co.in
Anand Gupta Editor - EQ Int'l Media Network

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