GE Power India informs about revision in credit rating

23 Nov 2023 Evaluate

Pursuant to Regulation 30 read with Para A of Part A Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in furtherance to the intimation made by the Company on the aforementioned subject on 06 June 2023, GE Power India has informed that ICRA (Credit rating agency) vide letter dated 22 November 2023, revised the Long-term rating for Line of Credit as [ICRA]BBB (Negative) from [ICRA]BBB+ (Negative), reaffirmed the outlook to Negative and short-term rating for Line of Credit as [ICRA]A3+ from [ICRA]A2. The reasons for downward revision included continuous decline in revenues, reduction in profit margins and delayed cash flow owing to significant cost pressures, provisions for accidents and slow pace of project execution.

The above information is a part of company’s filings submitted to BSE.

GE Power India Share Price

391.05 8.95 (2.34%)
22-Nov-2024 16:59 View Price Chart
Peers
Company Name CMP
Larsen & Toubro 3604.55
Rail Vikas Nigam 420.40
NCC 284.00
KEC International 998.65
Kalpataru Projects 1122.45
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.