Power Grid Corporation Of India Ltd.

Global rating agency Fitch has assigned ‘BBB-’ rating with stable outlook to state-run transmission utility Power Grid Corporation of India (PGCIL) for its debt issuance. ’BBB’ rating indicates that expectations of default risk are currently low. The capacity to pay against financial commitments is considered adequate but adverse business or economic conditions are more likely to impair this capacity. At the same time, the rating agency has affirmed the company’s senior unsecured rating and the ratings on its $500 million senior unsecured notes at ‘BBB-’.

Power Grid Corporation of India is India’s principal electric power transmission company. It owns and operates most of India’s interstate and inter-regional electric power transmission systems.