New Delhi, Sept. 24 -- Acme Solar announced on Wednesday that rating agency ICRA has upgraded the credit rating of the long-term loan facility of ACME Aklera Power Technology Private Limited.

ACME Aklera is a wholly owned subsidiary of ACME Solar Holdings to 'ICRA AA-/Stable' from 'ICRA A+/Stable'.

According to the exchange filing, the rating was given to a 250 MW renewable energy project in Rajasthan, tied to its Rs.1,072 crore term loan facility secured from Bank of America, Standard Chartered Bank, and India Infradebt Limited.

ICRA highlighted the improved credit profile of parent company ACME Solar, strong revenue visibility, solid generation performance, and the successful refinancing of its earlier loan on favorable terms as the ...