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S&P ends Parampujya Solar observation
S&P said it affirmed Parampujya Solar Energy Pvt. Ltd. Restricted Group’s (Psepl RG) BB- issue rating and ended its under criteria observation status.
Psepl RG comprises three wholly owned subsidiaries of Adani Green Energy Ltd., Adani Green Energy (UP) Ltd., Parampujya Solar Energy Pvt. Ltd., and Prayatna Developers Pvt. Ltd. These entities, collectively referred to as Psepl RG, are the co-issuers and co-guarantors of a $500 million senior secured fixed-rate 5.5-year bond.
On Dec. 14, the agency published its revised criteria for rating project finance.
“We have completed our review on Psepl RG. We believe the revised criteria do not impact our assessment of the project's creditworthiness,” S&P said in a press release.
The outlook is stable.
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