Moody's assigns Baa2 to Power Grid

Moody's said it assigned a Baa2 issuer rating to Power Grid Corp. of India Ltd.

The outlook is stable.

“Power Grid's Baa2 rating reflects its baseline credit assessment (BCA) of baa2. The rating does not factor in any uplift from the government due to the high baa2 BCA relative to the Baa2 sovereign rating,” said Abhishek Tyagi, a Moody's vice president and senior analyst, in a news release.

“Power Grid's standalone credit strength reflects its strong competitive position, favorable regulatory environment for electricity transmission in India, strong financial profile, cost-plus tariff structure and payment support system which mitigates debtors' payment defaults.”

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