Inox Wind announced today that Acuite Ratings has ascribed the following ratings:

• ‘ACUITE A1+', the highest rating for Short Term Bank Facilities, covering IWL's non-fundbased limits which primarily include letter of credits (LC) and bank guarantees (BG). This is the highest possible rating for such facilities ascribed by Acuite to corporates in India.

• ‘ACUITE A+ : STABLE' rating assigned on IWL's Long Term Bank Facilities. It is pertinent to note that since IWL's balance sheet is already net cash positive, such facilities are rarely utilised for cash management purposes only.

Acuité's strong ratings for IWL factors in an established track record of operations, healthy order book, and improved financial performance, thereby reducing the risk profile of the company substantially.

IWL's robust order book of ~ 3.5 GW is supported by a strong order pipeline, higher project execution, as well as its expertise in manufacturing and technology, and provides large growth visibility in IWL's revenue and profitability going ahead.