Power Finance Corporation Ltd.

Credit rating agency, CARE has  reaffirmed AAA rating to PFC’s LT Borrowing Programme for FY13 worth Rs 22,200 crore, Long-term Borrowing Programme for FY14 worth Rs 36,450 crore (excluding Subordinated Tier II Bonds of Rs.2,500 crore) and Unsecured, Redeemable, NonConvertible, Non-Cumulative Subordinated Tier II Bonds worth Rs 2,500 crore.

The rating agency has also  reaffirmed A1+ rating to company’s ST Borrowing Programme for FY13 worth Rs 5,000 crore and Short-term Borrowing Programme for FY14 worth Rs 5,000 crore .

The ratings continue to factor in the majority ownership by Government of India (GoI) and PFC's strategic importance to GoI in the development of the power infrastructure in India

PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.