Fitch Ratings on Monday said it has assigned clean energy firm ReNew Power\u2019s proposed US dollar senior secured notes a rating of \u2018BB-\u2018 with a stable outlook. According to Fitch Ratings, \u2018BB\u2019 ratings indicate an elevated vulnerability to default risk, particularly in the event of adverse changes in business or economic conditions over time.<\/p>\n
However, business or financial flexibility exists that supports the servicing of financial commitments, as per Fitch Ratings. \u201cFitch Ratings has assigned a rating of \u2018BB-\u2018 to ReNew Power Private Limited\u2019s (ReNew, BB-\/Stable) proposed US dollar senior secured notes,\u201d the rating agency said in a statement.<\/p>\n
The proposed notes will be senior secured obligations of the issuer and will have direct security of a 250 mw wind-power operating project (SECI-II) directly held by ReNew Power Pvt Ltd \u2013 the holding company \u2013 along with a pledge over certain equity shares and preference shares of ReNew Power Services Pvt Ltd, the statement said. <\/p>\n","protected":false},"excerpt":{"rendered":"
Fitch Ratings on Monday said it has assigned clean energy firm ReNew Power\u2019s proposed US dollar senior secured notes a rating of \u2018BB-\u2018 with a stable outlook. According to Fitch Ratings, \u2018BB\u2019 ratings indicate an elevated vulnerability to default risk, particularly in the event of adverse changes in business or economic conditions over time. However, business or financial flexibility exists that supports the servicing of financial commitments, as per Fitch Ratings. \u201cFitch Ratings has assigned a rating of \u2018BB-\u2018 to ReNew Power Private Limited\u2019s (ReNew, BB-\/Stable) proposed US dollar senior secured notes,\u201d the rating agency said in a statement. The […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,240,138],"tags":[],"class_list":["post-310284","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/310284","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=310284"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/310284\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=310284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=310284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=310284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}