Pace Digitek Limited (“Pace Digitek” or “the Company”), a leading provider of integrated power and passive telecom infrastructure solutions, today announced that CRISIL Ratings has upgraded the credit rating on the Company’s bank facilities to ‘CRISIL A-/Stable’ for long-term facilities and ‘CRISIL A2+’ for short-term facilities, from ‘CRISIL BBB+/Stable’ and ‘CRISIL A2’ respectively. CRISIL Ratings has also assigned long-term rating of ‘CRISIL A-/Stable’ and short-term rating of ‘CRISIL A2+’ to the bank facilities of Lineage Power Private Limited (“Lineage Power”), the Company’s material subsidiary.
The upgrade for Pace Digitek and the assignment for Lineage Power reflect CRISIL’s view of the group’s improved credit profile, strong business position and healthy financial risk profile over the medium term. CRISIL has also taken into account the strategic and operational linkages between Pace Digitek and Lineage Power, and the expectation of continued managerial and financial support within the group.
Commenting on the development, Chairman & Managing Director, Mr. Venugopal Rao Maddisetty said, “The upgraded and assigned CRISIL ratings are a strong external validation of our credit strength and overall financial resilience, and reinforce our commitment to disciplined growth and value creation for all stakeholders.”
About Pace Digitek Limited
Pace Digitek Limited is an integrated solutions provider offering passive telecom infrastructure, power management systems and energy solutions, including battery energy storage systems and solarisation of telecom towers, to customers in India and select international markets. Through its subsidiaries and step-down subsidiaries, the group provides end-to-end offerings from manufacturing and EPC to long-term operations and maintenance services.
About Lineage Power Private Limited
Lineage Power Private Limited, a material subsidiary of Pace Digitek Limited, is engaged in the manufacturing, supply and installation of passive equipment for telecom towers and lithium-ion battery systems supporting telecom and energy applications.
