CRISIL upgrades Suzlon Energy Limited ratings second time in a year

BILKULONLINE

Pune, Dec 31: Suzlon Group, India’s leading renewable energy solutions provider, today announced that CRISIL Ratings has upgraded its credit rating to ‘CRISIL A’ with a Positive Outlook, underscoring the company’s robust performance and improved profitability. 

This marks the second rating upgrade by CRISIL in 2024, reflecting Suzlon’s strong operational efficiencies, disciplined financial management, and consistent quarter-on-quarter growth. Earlier this year, CRISIL had assigned Suzlon a rating of ‘CRISIL A-’, which has now been further upgraded to ‘CRISIL A’ in recognition of the company’s improved financial metrics and growing opportunity in the dynamic renewable energy sector. CRISIL also assigned positive outlook reflecting possibility of WTG business outperformance on higher execution volumes.    

Himanshu Mody, Chief Financial Officer, Suzlon Group said, “This upgrade to an ‘A’ rating with a Positive Outlook by CRISIL reflects the strong confidence of our stakeholders and our commitment to financial and operational excellence. Suzlon is proud to be among the few companies to achieve two consecutive credit rating upgrades in a year, showcasing our disciplined approach to financial management and growth. This milestone reinforces our focus on creating value through efficient capital management and sustainable business practices, strengthening our position as a trusted leader in the renewable energy sector.”