February 05, 2025: VA TECH WABAG (‘WABAG’), a leading pure-play water technology Indian Multinational Group, today announced that India Ratings has upgraded its Long Term Credit Rating to ‘IND AA-’ with a ‘Stable’ Outlook, underscoring WABAG’s robust operating performance with improvement in EBITDA margins, which has aided in achieving a deleveraged Balance Sheet and remaining Net Cash Positive. 

This rating upgrade is driven by WABAG’s leadership in the water treatment sector, healthy revenue visibility, continued focus on profitability, and remaining asset light. Commenting on this development, Mr. Rajiv Mittal, Chairman & Managing Director, said, “This upgrade to an ‘AA-‘ rating with a ‘Stable’ Outlook reflects our strong financial and operational performance, driven by our long-term strategy, ‘Wriddhi’. This milestone underscores our commitment to continue creating sustainable value through responsible growth, with a heightened focus on profitability and cash flow. It further strengthens stakeholder confidence and solidifies our position as a trusted global leader in the Water Technology sector.”