Mumbai, June 13 -- The agency has assigned 'IVR A2' rating to the short-term facilities of the company.

Infomerics Valuation and Rating stated that the its ratings reaffirmed on the bank facilities of Sterling and Wilson Renewable Energy (SWREL) as it derives comfort from the improvement in operating performance, strong order book, reputed counterparties, moderate capital structure and satisfactory debt protection metrics, indemnification against legacy claims/non-recovery of receivables, established presence in the solar segment and part of strong promoter group.

However, these rating strengths are partially offset by the overhang of contingent liabilities, susceptibility to price volatility and project execution risks.

The agency fur...