ICRA retains issuer rating assigned to Petronet LNG
Rating agency ICRA on Tuesday retained issuer rating of 'IrAA', indicating high credit quality, assigned to Petronet LNG.
By PTI |
NEW DELHI: Rating agency ICRA on Tuesday retained issuer rating of 'IrAA', indicating high credit quality, assigned to Petronet LNG.
The rating on entity is only an opinion on the general creditworthiness and carries low credit risk, ICRA said in a release.
The rating reflects the strength arising from financially sound project participant and the company's demonstrated track record in running the regassification facility and generating profits, it said.
It also factors in the large latent demand for gas in the country and the company's financial risk profile characterised by moderate gearing level and comfortable debt servicing ability.
The rating is, however, constrained by the project implementation risks inherent in the company's significant capex programme and the supply risks emanating from the fact that LNG is yet to be tied up on long term basis for balance requirement of Dahej expansion and greenfield project in Kochi, it added.
The rating on entity is only an opinion on the general creditworthiness and carries low credit risk, ICRA said in a release.
The rating reflects the strength arising from financially sound project participant and the company's demonstrated track record in running the regassification facility and generating profits, it said.
It also factors in the large latent demand for gas in the country and the company's financial risk profile characterised by moderate gearing level and comfortable debt servicing ability.
The rating is, however, constrained by the project implementation risks inherent in the company's significant capex programme and the supply risks emanating from the fact that LNG is yet to be tied up on long term basis for balance requirement of Dahej expansion and greenfield project in Kochi, it added.
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