Credit rating agency, CARE has reaffirmed ‘A1+’ rating to Power Grid Corporation of India’s Short-term Borrowing Programme for FY14 worth Rs 5200 crore which was enhanced from 4300 crore.
The ratings continue to take into account the ownership and continued support of the Government of India (GoI), Power Grid Corporation of India’s pivotal role in the Indian power sector for developing and maintaining inter-state and inter-regional power transmission network and national grid management, low risk business having cost-plus-tariff structure for majority of the projects, high operating efficiency, consistent increase in the operating income and net profit, superior profitability margins and strong project execution skills.
Power Grid is engaged in bulk power transmission and its responsibility include planning, coordination, supervision and control over inter-State transmission system and operation of National and Regional Power Grids.
