Crisil upgraded its rating and outlook on Inox Wind Ltd.'s long-term and short-term bank facilities.
Crisil has upgraded its rating for long-term bank facilities to 'Crisil A/Stable' from 'Crisil A-/Stable', while the rating for short-term bank facilities was upgraded to 'Crisil A1' from 'Crisil A2+', according to an exchange filing.
"The latest ratings upgrade by Crisil is the result of all the company's recent efforts," said Kailash Tarachandani, chief executive at Inox Wind. "We have successfully raised funds to strengthen our balance sheet and also ramped up our operations."
Inox Wind has an order book for 2.7 GW of wind power projects.
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