Fitch Cuts Power Grid Corp. of India's Standalone Credit Profile to bbb

MT Newswires Live

Feb 13

Power Grid Corp. of India (NSE:POWERGRID, BOM:532898) said Fitch Ratings has revised its standalone credit profile to bbb from bbb+ following changes under its updated rating criteria, according to an Indian bourse filing on Thursday.

Power Grid said the revision reflects analytical recalibration and not any change in business fundamentals of the company.

Long-term foreign and local currency issuer default ratings remain at BBB- with stable outlook.

Shares of the company fell nearly 2% in recent trade.

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