{"id":609878,"date":"2023-10-12T09:32:09","date_gmt":"2023-10-12T04:02:09","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=609878"},"modified":"2023-10-12T10:03:42","modified_gmt":"2023-10-12T04:33:42","slug":"ind-ra-downgrades-sterling-and-wilson-renewable-energy-in-default-grade","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ind-ra-downgrades-sterling-and-wilson-renewable-energy-in-default-grade\/","title":{"rendered":"Ind-Ra downgrades Sterling and Wilson Renewable Energy in &#8216;default&#8217; grade"},"content":{"rendered":"<p>India Ratings (Ind-Ra) has downgraded Sterling and Wilson Renewable Energy Ltd\u2019s (SWREL) bank facilities from \u201cBB-\u201d to \u201cD\u201d due to delays in servicing its debt obligations in September 2023 caused by its weakened liquidity position. <\/p>\n<p>The ratings have been removed from &#8220;Rating Watch with Negative Implications.&#8221; <\/p>\n<p>Ind-Ra highlighted concerns that the company&#8217;s operating cash flows would not be adequate to address its upcoming debt obligations in October 2023. This liquidity crunch was exacerbated by the activation of bank guarantees at SWREL&#8217;s overseas subsidiary, Sterling and Wilson Solar Solutions Inc.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India Ratings (Ind-Ra) has downgraded Sterling and Wilson Renewable Energy Ltd\u2019s (SWREL) bank facilities from \u201cBB-\u201d to \u201cD\u201d due to delays in servicing its debt obligations in September 2023 caused by its weakened liquidity position. The ratings have been removed from &#8220;Rating Watch with Negative Implications.&#8221; Ind-Ra highlighted concerns that the company&#8217;s operating cash flows would not be adequate to address its upcoming debt obligations in October 2023. This liquidity crunch was exacerbated by the activation of bank guarantees at SWREL&#8217;s overseas subsidiary, Sterling and Wilson Solar Solutions Inc.<\/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-609878","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\/609878","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=609878"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/609878\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=609878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=609878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=609878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}