While Mangalore Electricity Supply Company Limited (Mescom) slipped in the ICRA ratings, Mangalore Refinery and Petrochemicals Limited (MRPL) is seen as a good investment.
Mescom has received BBB+ (stable rating) for their long-term loan commitments, said an ICRA December 2012 report. However, this is a slip from the ‘A-’ rating received in March 2010.
Due to ONGC’s commitment to MRPL, and its “high financial flexibility”, the refinery has retained its AAA and A1 (both being the highest ratings awarded) for long-term funds and short-term funds respectively.
For Mangalore Special Economic Zone, the long-term rating is BBB+. While the potential of MSEZ is high, said the agency, tax-benefits, construction delays, water supply induce risk.
