Corporate News     07-Jun-23
GE Power India receives revision in credit ratings from ICRA
GE Power India announced that ICRA has revised the long-term rating for Line of Credit as [ICRA]BBB+ (Negative) from [ICRA]A-, reaffirmed the outlook to Negative and short-term rating for Line of Credit as [ICRA]A2 from [ICRA]A2+ of the Company.

The reasons for such downward revision inter-alia are slow order intake, increased provisions, decline in revenue and profitability in the financial year 2022-23, susceptibility to execution delays and subdued demand outlook.

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