CARE Ratings upgrades Waaree Renewable Technologies Limited (WRTL) credit rating to ‘A’ with ‘stable’ outlook

Leading credit rating agency of India, CARE Ratings, has upgraded Waaree Renewable Technologies Limited (WRTL) from ‘CARE A-‘  to ‘CARE A’, in its latest released ratings. The rating of ‘CARE A’ are specifically for Long Term facilities i.e. term loans and ‘CARE A’ for Long Term / Short Term Facilities i.e. Fund-based/Non – fund based limits.

The move reflects Waaree Renewable’s strong financial stability including on aspects of operational and financial performance basis FY24 financials as well as performance during the nine-month period of FY25 i.e. last financial quarter.

The improved rating highlights the company’s robust financial health basis strategic growth initiatives thereby placing the company as a strong player in the renewable energy sector with further potential for tapping newer business opportunities and partnerships.