KPI Green Energy Limited announced the reaffirmation of credit ratings by ICRA Limited for its bank facilities and Non-Convertible Debentures (NCDs). Total reaffirmed bank facilities stand at ₹5,775.00 crore, with most long-term facilities maintained at [ICRA]A (Stable). Notably, the outlook for several key long-term facilities was revised from Positive. The NCDs received a rating of [ICRA]AA+ (CE) (Stable).
Credit Rating Update for Bank Facilities
KPI Green Energy Limited has received reaffirmation of credit ratings from ICRA Limited across its various financing instruments. The total rated bank facilities amount to ₹5,775.00 crore. Key long-term instruments, including Fund based Term loans (₹4009.54 crore) and Cash Credit (₹487.00 crore), were reaffirmed at [ICRA]A (Stable), though the outlook was revised from Positive for these facilities. Short-term facilities, such as Working Capital Demand Loans and Bank Guarantees, were reaffirmed at [ICRA]A2+.
Non-Convertible Debentures (NCDs) Rating
For the Non-Convertible Debentures (NCDs), the rating assigned, incorporating Credit Enhancement (CE), was [ICRA]AA+ (CE) (Stable), which was reaffirmed. The total rated NCD amount is ₹643.20 crore. The rating without explicit credit enhancement was noted as [ICRA]A.
Summary of Rating Actions
The reaffirmation underscores the agency’s confidence in the company’s structure, while the revision of the outlook from Positive to Stable for major term loans indicates a moderation in growth expectations or stability consolidation. Short-term ratings remain strong, particularly the [ICRA]A2+ assigned to various short-term instruments, confirming the company’s liquidity position as of March 25, 2026.
Source: BSE
