ICRA revises GE Power India’s outlook to negative from stable

ICRA has reaffirmed A-plus rating on GE Power India Ltd (GEPIL) but said the outlook revision to negative from stable on the bank lines is driven by deterioration in credit profile on account of losses incurred in Q1 FY2022. The losses were primarily attributable to the cost overrun in National Hydroelectric Power Corporation’s Subansiri project where GEPIL is a contractor […]