Waaree Renewable Technologies receives credit rating upgrade

BUSINESS

Waaree Renewable Technologies receives credit rating upgrade

AIMPWA

March 13, 2025

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Waaree Renewable Technologies Limited (WRTL) announced today that Care Ratings Limited has upgraded its credit rating for bank facilities totalling ₹1,423 crore. The company’s long-term bank facilities of ₹28.94 crore and long-term/short-term bank facilities of ₹1,394.06 crore have both been upgraded from “CARE A-; Stable” to “CARE A; Stable,” with the short-term rating improving from “CARE A2” to “CARE A1.”

According to the company, the upgrade follows a review of the company’s operational and financial performance for FY24 (Audited) and 9M-FY25 (Unaudited).

A subsidiary of Waaree Energies Limited, WRTL’s banking facilities are spread across multiple lenders including ICICI Bank Ltd. (₹400 crore), RBL Bank Limited (₹160 crore), HSBC Ltd. (₹150 crore), Yes Bank Ltd. (₹150 crore), and HDFC Bank Ltd. (₹125 crore), among others.

Care Ratings stated that it reserves the right to undertake surveillance or review of the rating periodically, with at least one such review every year.

The shares of Waaree Renewable Technologies Limited (WRTL) closed today on the BSE at ₹808.25 down by ₹6.05 or 0.74per cent.

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