S&P Global Ratings affirms Long-term issuer credit rating of PGCIL

 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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Meanwhile, KEC International Ltd., a global infrastructure EPC major, an RPG Group Company, has secured new orders of Rs. 1,422 crores for Transmission & Distribution (T&D) projects in India and the America of 765 kV and 400 kV Transmission line orders in India, from Power Grid Corporation of India Limited along with the Supply of Substation structures in the United States of America (USA).

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