By Ratnam Raju Nakka

India Ratings has withdrawn Western Region Transmission (Maharashtra) Private Limited’s (WRTMPL) term loan rating as follows:

Instrument Type

Date of Issuance

Coupon Rate

Maturity Date

Size of Issue (million)

Rating

Rating Action

Term loans

-

-

-

INR6,450

WD

Withdrawn

KEY RATING DRIVERS

The rating has been withdrawn due to the amalgamation of WRTMPL with Reliance Infrastructure Limited (‘IND A+’/RWN) as of 1 May 2017. Post the merger, WRTMPL has ceased to exist as a legal entity.  The debt instruments of WRTMPL have been transferred to Reliance Infrastructure and are now covered as part of the latter’s. 


COMPANY PROFILE

WRTMPL is responsible for building and operating 400kV double circuit interstate transmission projects on build, own, and operate basis, as part of strengthening of the Western Grid, under the Western Region System Strengthening Scheme (WRSSS)-II and to provide transmission service to long-term transmission customers.



RATING HISTORY

Instrument Type

Current Rating

Historical Rating/Outlook

Rating Type

Amount Outstanding (million)

Rating

31 March 2015

Term loans

Long term

INR6,450

WD

IND A+/Stable


COMPLEXITY LEVEL OF INSTRUMENTS

For details on the complexity levels of the instruments, please visit https://www.indiaratings.co.in/complexity-indicators.

SOLICITATION DISCLOSURES

Additional information is available at www.indiaratings.co.in. The ratings above were solicited by, or on behalf of, the issuer, and therefore, India Ratings has been compensated for the provision of the ratings. 

Ratings are not a recommendation or suggestion, directly or indirectly, to you or any other person, to buy, sell, make or hold any investment, loan or security or to undertake any investment strategy with respect to any investment, loan or security or any issuer.

ABOUT INDIA RATINGS AND RESEARCH

India Ratings and Research (Ind-Ra) is India's most respected credit rating agency committed to providing India's credit markets accurate, timely and prospective credit opinions. Built on a foundation of independent thinking, rigorous analytics, and an open and balanced approach towards credit research, Ind-Ra has grown rapidly during the past decade, gaining significant market presence in India's fixed income market. 

Ind-Ra currently maintains coverage of corporate issuers, financial institutions (including banks and insurance companies), finance and leasing companies, managed funds, urban local bodies, structured finance and project finance companies. 

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Analyst Names

  • Primary Analyst

    Ratnam Raju Nakka

    Associate Director
    India Ratings and Research Pvt Ltd Wockhardt Towers, 4th floor, West Wing Plot C-2, G Block. Bandra Kurla Complex Bandra (East), Mumbai 400051
    +91 22 40001742

    Media Relation

    Mihir Mukherjee

    Manager Corporate Communications and Investor Relations
    +91 22 40356121