Waaree Renewable Technologies credit rating upgraded by CARE Ratings

Waaree Renewable Technologies announced that CARE Ratings has upgraded its credit ratings, according to a regulatory filing. The long-term bank facilities rating has been upgraded to 'CARE A; Stable' from 'CARE A-; Stable'. Similarly, the rating for long-term/short-term bank facilities has been upgraded to 'CARE A; Stable / CARE A1' from 'CARE A-; Stable / CARE A2'. The total rated facilities amount to Rs 1,423 crore, including Rs 28.94 crore for long-term bank facilities and Rs 1,394.06 crore for long-term/short-term bank facilities. The company communicated that the upgrade reflects CARE Ratings' assessment of Waaree Renewable Technologies' improved financial performance and operational stability.