Crisil upgrades Acme Solar’s long-term rating; bank facility enhanced to ₹1,000 crore

Crisil Ratings has upgraded its credit rating on the long-term bank facilities of Acme Solar Holdings Ltd (ASHL) worth ₹1,000 crore to ‘AA-/Stable’ from ‘A+/Positive’. This upgrade is expected to reduce the company’s cost of debt across its projects.

The upgrade by Crisil is based on several factors, including growth in ACME Solar’s operating portfolio and a solid execution track record. The company has stabilised its assets in a timely manner and refinanced its projects to lower the cost of debt, which has improved its operating cash flows.