Global credit rating agency Moody’s Investors Service has downgraded Tata Power Company’s outlook to negative from stable.
The rating agency has downgraded the company’s outlook due to renewed uncertainties related to the material covenant breaches on bank debt associated with the company’s Gujarat-based Mundra Ultra Mega Power Project which is being executed under its fully owned subsidiary, Coastal Gujarat Power.
Tata Power is India's largest integrated power company with a significant international presence. The Company has an installed generation capacity of 8521 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.
