IntelliSmart receives India Ratings ‘IND A/Stable’

IntelliSmart has been assigned the “IND A/Stable” rating by India Ratings, making it the first company to offer smart meters.Working capital that is based on funds and without funds has received a rating in rupees.
The debt facilities of IntelliSmart Infrastructure Private Limited, India’s top provider of smart meters and digital solutions and a joint venture between Energy Efficiency Services Limited (EESL) and National Infrastructure Investment Fund (NIIF), have been rated “IND A/Stable” by India Ratings & Research. Working capital that is fund-based and non-fund-based as well as rupee term loans have all received ratings.
The rating reflects IntelliSmart’s long-term contract with a strong counterparty like Assam Power Distribution Company Limited (APDCL), minimal payment risk due to a dedicated payment security mechanism with a minimum clearing balance of 1.1x the monthly payment fee, minimal equity infusion risk and moderate debt structure. The rating also derives comfort from the company’s strong sponsor-led backing and seasoned key management staff with substantial experience in the smart metering sector.

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