Global rating agency, Fitch Ratings has affirmed Power Grid Corporation of India’s long-term Issuer Default Rating (IDR) at ‘BBB-’. The outlook is stable. The company’s IDR is a notch below its standalone credit profile of 'BBB'. At the same time, the agency has also affirmed ‘BBB-’ rating to the company’s $500 million senior unsecured notes.
Recently, CARE assigned ‘AAA’ rating to the company’s long-term borrowing programme for FY15 worth Rs 13,500 crore. The rating agency also assigned ‘A1+’ rating to the company’s short-term borrowing programme for FY15 worth Rs 5,800 crore.
PGCIL is India’s principal electric power transmission company. It owns and operates most of India’s interstate and inter-regional electric power transmission systems with inter-regional power transfer capacity of about 20,800 MW and wheels nearly 45% of total power generated across India.
