S&P Global Ratings affirms Long-term issuer credit rating of PGCIL
The Positive Rating outlook on POWERGRID reflects the outlook on the sovereign rating on India, it added.
State-owned Power Grid Corporation Ltd shares surged over 0.8% amid a revision in stand-alone credit profile by S&P Global Ratings.
As per the regulatory filing made, S&P Global Ratings, vide its communication dated July 23, 2024, revised stand-alone credit profile (SACP) of POWERGRID upward to 'bbb+' from 'bbb'.
Further, S&P Global Ratings affirmed its 'BBB-' long-term issuer credit rating and 'BBB-' issue rating on POWERGRID. The ratings are capped by that on the Indian sovereign (BBB-/Positive/A-3). The Positive Rating outlook on POWERGRID reflects the outlook on the sovereign rating on India, it added.
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