Moody's assigns Greenko notes Ba1

Moody's Investors Service said it assigned a Ba1 rating to the planned backed senior unsecured dollar-denominated notes of Greenko Wind Projects (Mauritius) Ltd. (GWPM). Parent Greenko Energy Holdings will guarantee the notes.

The issuer is a financing vehicle for Greenko Energy Holdings’ first integrated renewable energy storage project, which is being implemented by its subsidiary, Greenko AP01 IREP Private Ltd.

GWPM will use the proceeds mainly to repay debt and/or fund the capital expenditures at the asset level of Greenko AP01, depending on the size of the issuance. The notes will be used to subscribe to senior secured Indian rupee-denominated debt issued by Greenko AP01.

The outlook is stable.

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