NTPC Ltd.

Credit rating agency, Fitch Ratings has affirmed state-run power producer NTPC’s long-term foreign and local currency issuer default ratings at ‘BBB-’. The outlook is stable. The agency has also affirmed the company’s senior unsecured rating of ‘BBB-’, and the ‘BBB-’ ratings on its $4 billion medium-term note programme.

The foreign-currency notes and masala bonds issued under the programme have been affirmed at ‘BBB-’ and ‘BBB-emr’, respectively.

NTPC’s ratings benefit from its dominant market position and regulated business model, which provides certainty of cash flows.

NTPC is an Indian central Public Sector Undertaking (PSU) under the Ministry of Power, Government of India, engaged in the business of generation of electricity and allied activities.