India Ratings & Research (Ind-Ra), a Fitch Group company, maintained a stable outlook for wind and solar power sectors for the remaining part of financial year 2019-20 (FY20).
“The stable outlook emanates from likely in-line operational and financial performance of projects with Ind-Ra’s projection for the rest of FY20, coupled with the availability of adequate liquidity,” said Ind-Ra in a press release recently. The research agency has also revised the rating outlook for solar sector to stable (from positive), while maintaining stable rating outlook for the wind sector.
The agency reasoned the revision in rating outlook for solar due resurfacing renegotiation fears and continued delay in payments from some of the offtakers.
There were 25 per cent more downgrades than upgrades among renewable projects in Ind-Ra’s portfolio in 2019, till mid-August, mostly on account of delay in payments from the offtaker. Read More
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