Inox Wind achieves highest rating for its Short-Term Facilities

Inox Wind Limited (IWL), India's leading wind energy solutions provider, announced today that Acuité Ratings (Acuité) has ascribed the following ratings:

- 'ACUITE A1+', the highest rating for Short Term Bank Facilities, covering IWL's non-fundbased limits which primarily include letter of credits (LC) and bank guarantees (BG). This is the highest possible rating for such facilities ascribed by Acuite to corporates in India.

- 'ACUITE A+ | STABLE' rating assigned on IWL's Long Term Bank Facilities. It is pertinent to note that since IWL's balance sheet is already net cash positive, such facilities are rarely utilised for cash management purposes only.

Acuité's strong ratings for IWL factors in an established track record of operations, healthy order book, and improved financial performance, thereby reducing the risk profile of the company substantially.

IWL's robust order book of ~ 3.5 GW is supported by a strong order pipeline, higher project execution, as well as its expertise in manufacturing and technology, and provides large growth visibility in IWL's revenue and profitability going ahead.

Shares of Inox Wind Limited was last trading in BSE at Rs. 180.70 as compared to the previous close of Rs. 183.35. The total number of shares traded during the day was 92297 in over 1041 trades.

The stock hit an intraday high of Rs. 183.95 and intraday low of 180.00. The net turnover during the day was Rs. 16792997.00.

Source : Equity Bulls

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InoxWind INE066P01011 RatingUpdate