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Icra downgrades Shapoorji Pallonji long-term ratings as multiple factors take toll

The ratings and research firm reaffirmed the short-term rating of ‘ICRA A1+’ on the Rs 2,500-crore commercial paper programme. Icra has downgraded the long-term rating assigned to the Rs 18,500 crore fund-based and non-fund based bank facilities of Shapoorji Pallonji and Company (SPCPL) to ‘ICRA AA’ from ‘ICRA AA+’ and has reaffirmed the short-term rating […]

Quote on behalf of Mr. Sanjay Aggarwal, Managing Director, Fortum India on Indian Environment Ministry extending the compliance deadline for thermal power plants