Fitch rates Transtech Green loans BB+(ind)

Fitch Ratings said it assigned a final BB+(ind) rating to Transtech Green Power Pvt. Ltd.'s Rs. 406 million senior project bank loans following a review of the financing and project documents. The final rating is an upgrade over the expected rating of B(ind) assigned in June.

The outlook is stable.

The multi-notch upgrade reflects the elimination of the green field project construction risk with the commencement of power generation from the company's power plant in Jalore, Rajasthan, Fitch said.

The ratings are constrained by the lack of firm arrangements for fuel supply and the possibility of the input costs exceeding base case assumptions together with the risks associated with its continued ability to ensure stable operating performance parameters, the agency said.

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