Fitch rates Power Finance notes BBB-

Fitch Ratings said it assigned an expected rating of BBB- to Power Finance Corp. Ltd.’s proposed dollar notes.

The rating on the notes is aligned with the company’s long-term issuer default rating of BBB-.

The outlook is stable.

The company’s ratings are equalized with those of India, reflecting its public-sector status, government ownership and strong operational and strategic ties to the government, Fitch said.

The ratings also consider Power Fiannce’s healthy financial performance and low delinquency ratio, the agency said.

Power Finance is one of two public financial vehicles that provide funds exclusively to the Indian power sector and also is the largest lender to the sector, Fitch said.

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