{"id":591084,"date":"2023-07-15T09:55:05","date_gmt":"2023-07-15T04:25:05","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=591084"},"modified":"2023-07-15T10:22:21","modified_gmt":"2023-07-15T04:52:21","slug":"moodys-downgrades-azure-power-energy-and-azure-power-solar-energy","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/moodys-downgrades-azure-power-energy-and-azure-power-solar-energy\/","title":{"rendered":"Moody’s downgrades Azure Power Energy and Azure Power Solar Energy"},"content":{"rendered":"

Global Rating agency Moody’s has downgraded Azure Power Energy Ltd’s (APE) senior unsecured rating from “B1” to “B2” and Azure Power Solar Energy Private Ltd’s (APSEP) unsecured rating from “Ba3” to “B1”. The agency’s \u201cB2\u201d rating indicates speculative grade, while \u201cB1\u201d belongs to the non-investment grade category, signifying that the issuer is relatively risky, with a higher than average chance of default.<\/p>\n

The one-notch downgrade of APE’s and APSEP’s debt ratings has been driven by governance issues related to internal controls and compliance. The two firms have delayed the filing of the audited financials for their two RGs (restricted groups).<\/p>\n","protected":false},"excerpt":{"rendered":"

Global Rating agency Moody’s has downgraded Azure Power Energy Ltd’s (APE) senior unsecured rating from “B1” to “B2” and Azure Power Solar Energy Private Ltd’s (APSEP) unsecured rating from “Ba3” to “B1”. The agency’s \u201cB2\u201d rating indicates speculative grade, while \u201cB1\u201d belongs to the non-investment grade category, signifying that the issuer is relatively risky, with a higher than average chance of default. The one-notch downgrade of APE’s and APSEP’s debt ratings has been driven by governance issues related to internal controls and compliance. The two firms have delayed the filing of the audited financials for their two RGs (restricted groups).<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-591084","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/591084","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=591084"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/591084\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=591084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=591084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=591084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}