The ratings continue to reflect the demand risk faced by CSPL because of the absence of a long-term power purchase agreement (PPA), and significant exposure to group companies.
For arriving at the ratings, CRISIL has combined the financial risk profiles of CSPL, Special Blasts Ltd (SBL), and Raghuvir Ferro Alloy Pvt Ltd (RFAPL), collectively referred to herein as the SBL group.
Conversely, the outlook may be revised to 'Negative' if CSPL undertakes a large, debt funded capex programme, or experiences a decline in realisations, resulting in lower cash accruals for the group.
With Headstrong's assistance CSPL, one of the leading financial services firms in Hong Kong, has been able to increase productivity in campaign executions and decrease customer service response time.
CSPL's CRM project was more than just a technology implementation, it was a business transformation," said Dallas Reid, Managing Director at CSPL.
Our success at CSPL was due to the strong focus and understanding of their business goals and a solid long-term partnership.
This includes, inter alia, a first exclusive charge over dividend receivables from two IPPs and the assignment of the same in favor of the agent bank, and a first equitable mortgage over land and building of CSPL with a 20% margin.
The Sponsors of CSPL intend to acquire a 20% ownership stake in AES Lal Pir Pvt Ltd and AES Pak Gen Pvt Ltd through Engen Pvt Ltd, an SPV set up for this purpose.
Assistance in the Secretariat related to the entire public service delegation procedure (presentation report, deliberation, mails, CSPL
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