Reliance Power Saturday said it is not agree with the CARE Ratings of ‘BBB+’ given to its subsidiary Sasan Power Limited.
CARE Ratings has revised the long-term and short term ratings of Sasan Power Ltd to ‘CARE BBB+ (Stable Outlook)’ and ‘CARE A2’, respectively, attributing inter-alia to steep depreciation in the rupee against US dollar, which will expose Sasan to higher interest outgo on the unhedged portion of foreign currency debt, the company said in a regulatory filing to exchanges.
“The company strongly disagrees with the revised ratings assigned by CARE,” it said.
The 3,960 MW Sasan UMPP is operating at 92 per cent Plant Load Factor and continues to be the best performing power plant among such large sized power stations in the country, it said. Read more
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