New Delhi, Jul 24 () Reliance Power on Wednesday said it disagrees with ICRA’s ratings downgrade for its arm Rosa Power Supply Company.
Ratings agency ICRA has revised the long-term rating on rated instruments of Rosa Power Supply Company Ltd (RPSCL) to ‘B- issuer not cooperating’ and short-term rating to ‘A4 issuer not cooperating’, citing significant deterioration in the financial risk profile of Reliance Power Group coupled with the overall deterioration in the liquidity position of the company, among other issues.
In a statement, Reliance Power said the action taken by ICRA is completely unjustified and unwarranted and it disagrees with the revision in the rating of RPSCL.
