India Ratings Upgrades Kalpataru Projects International's Long-Term Rating to 'IND AA+/Stable', Affirms Short-Term at 'IND A1+'

Kalpataru Projects International Receives Credit Rating Upgrade from India Ratings

Kalpataru Projects International Limited (KPIL) has received a credit rating upgrade from India Ratings & Research (Ind-Ra). The agency has upgraded the company's long-term bank loan facilities and Non-Convertible Debentures (NCDs) from 'IND AA' to 'IND AA+/Stable'. Additionally, its short-term bank loan facilities and proposed Commercial Paper have been affirmed at 'IND A1+'.

What the Upgrade Signals

The upgrade to 'IND AA+/Stable' suggests that India Ratings perceives a reduced risk associated with Kalpataru Projects International's debt obligations. This could make it easier for the company to raise funds in the future. The affirmation of short-term ratings at 'IND A1+' indicates strong short-term liquidity.

Capital Raising Plans

The company has indicated plans for a ₹100 crore NCD issuance. The improved rating provides a stronger foundation for this debt issuance, typically resulting in more favorable borrowing terms.

About Kalpataru Projects International

Kalpataru Projects International is a significant player in the infrastructure development sector, involved in engineering, procurement, and construction (EPC) for power, oil & gas, and infrastructure projects. The company has a history of undertaking large-scale projects both domestically and internationally. Established in 1981, the company is a global engineering and construction company with industry leading capabilities in energy and infrastructure projects. They have executed 250+ projects across 5 continents, has a global reach in 75 countries and has live projects in 30+ countries.