New Delhi: Global rating agency Moody’s on Wednesday confirmed Baa3 ratings and retained stable outlook of Power Finance Corporation (PFC) and ural Electrification Corporation (REC) Ltd on the expectation the deal between the two companies will conclude soon.
Last week, state-owned PFC had said it will acquire the entire 52.63 per cent shares of the government in REC for Rs 14,500 crore by the month-end.
The rating agency has confirmed the Baa3 issuer ratings of PFC and REC.
