Moody's affirms NTPC

Moody's Investors Service said it affirmed NTPC Ltd.'s Baa3 foreign-currency issuer rating.

The outlook is stable.

The rating considers the company's position as the largest generating company in India, its high operating efficiency and its sound financial profile, Moody's said.

The agency added, however, that the company's largely debt-funded capital expenditure program could weaken its credit metrics over time.

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