MUMBAI: S&P Global Ratings has assigned Power Grid Corporation’s stand-alone credit profile a ‘BBB’ rating from ‘BBB-‘ earlier, on stronger financials.
The rating agency has also affirmed its ‘BBB-‘ long-term issuer credit rating and ‘BBB-‘ long-term issue rating on the company’s senior unsecured.
Power Grid’s leverage will continue to improve over the next three years due to slowing capital expenditure and robust cash flows and the company has financial headroom to accommodate higher capex and a moderate increase in dividend payouts, the global ratings agency said.
