India, July 4 -- CRISIL Ratings has assigned a 'CRISIL AA-/Stable' rating to the Rs 890 crore long-term bank facilities of ACME Raisar Solar Energy Pvt Ltd (ARSEPL), a wholly owned subsidiary of ACME Solar Holdings Ltd. The rating pertains to ARSEPL's 300 MW (AC) solar project located in Fatehgarh, Rajasthan, financed through a term loan from REC Ltd.
The rating reflects strong revenue visibility, robust financial metrics, and sound debt servicing capability, backed by a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI). The fixed tariff structure ensures predictable long-term cash flows, while SECI's history of timely payments further strengthens ARSEPL's credit profile.
Following this rating assign...