Fitch Ratingsaffirms ‘BBB-‘ rating to GAIL India, outlook stable
Fitch Ratings has affirmed a ‘BBB-‘ rating to gas utility GAIL (India) Ltd, with a stable outlook, on premise that the firm’s financial profile will remain strong.
Its rating is capped by the Indian sovereign rating of ‘BBB-‘. The government owns 51.52 per cent in GAIL.
“GAIL’s standalone credit profile (SCP) is ‘bbb’, supported by its dominant market position in the regulated utility gas-transmission business, diversification into other business segments, and healthy credit metrics,” Fitch said.
GAIL is India’s largest gas transmission and gas marketing company, with a 14,502-kilometre gas pipeline network and capacity of 206 million standard cubic metres a day. Its natural gas pipeline network covers 21 states.
