IntelliSmart Infrastructure Private Limited has received ‘IND A/Stable’ rating from India Ratings & Research for its debt facilities. The rating has been provided for rupee term loan, fund-based and non-fund-based working capital. The rating reflects IntelliSmart’s long-term contract with a strong counterparty like Assam Power Distribution Company Limited, minimal payment risk due to a dedicated payment security mechanism with minimum clearing balance of 1.1 times the monthly payment fee, minimal equity infusion risk and moderate debt structure. The rating also draws comfort from the company’s strong sponsor-led backing and experienced key management personnel with considerable experience in the smart metering sector.
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