Sajjan Jindal-led JSW Energy (JEL) said that Care Ratings has put its commercial papers (CPs), and those of JSW Energy (Barmer) and JSW Hydro Energy, on ‘Credit watch with negative implications.’
The rating action has been taken on account of the proposed acquisition of thermal power assets of GMR Kamalanga Energy, which owns and operates a 1,050-MW thermal power plant in Odisha, and approval of JEL’s resolution plan submitted for Ind-Barath Energy (Utkal) plant, the rating agency said.
