Credit rating agency, ICRA has reaffirmed the long-term rating of ‘AA’ to the Rs 1340 crore term loans and Rs 4100 crore Non-Convertible Debenture (NCD) Programme of Tata Power Company. The outlook on the long-term rating is Negative. The rating agency has also reaffirmed the short-term rating of ‘A1+’ to the Rs 2000 crore Commercial Paper (CP)/Short Term Debt Programme of the company.
The reaffirmation of ratings takes into account the favourable financial profile of the company on a standalone basis which is aided by the stable cash flows generated from the company’s operations in the Mumbai License Area arising from the cost-plus rate of return model and superior operational efficiency.
Tata Power is India's largest integrated power company with a significant international presence. The Company has an installed generation capacity of 8747 MW in India and a presence in all the segments of the power sector viz Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.
