CARE Ratings Ltd. has upgraded the credit rating of Nava Bharat Energy India Limited (NBEIL), a subsidiary of NAVA Limited. The long-term rating has been upgraded to A stable from A- stable, and the short-term rating has been upgraded to A1 from A2. The supported rating, related to the Corporate Guarantee from Nava Limited, is being withdrawn and not extended.
Credit Rating Improvement
NAVA Limited announces an upgrade in the credit ratings for its subsidiary, Nava Bharat Energy India Limited (NBEIL). The upgrade was conducted by CARE Ratings Ltd. and reflects a positive assessment of NBEIL’s financial standing.
Revised Ratings Details
The specific rating upgrades are as follows:
- Long-term Rating: Upgraded to A stable from A- stable.
- Short-term Rating: Upgraded to A1 from A2.
Furthermore, the Corporate Guarantee provided by Nava Limited, which served as a support for the rating, will not be extended and is being withdrawn.
Source: BSE
