Research Update: Long-Term FC Rating On India's National Thermal Power Corp. Raised To 'BB+'
- ID: 1781531
- February 2005
- Region: India
- Standard & Poors
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Product Type: Research Update
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On Feb. 2, 2005, Standard & Poor's Ratings Services raised its foreign currency rating on India-based National Thermal Power Corp. Ltd. (NTPC) to 'BB+' from 'BB'. The outlook is stable. The rating action follows Standard & Poor's rating upgrade of its foreign currency sovereign rating on India (BB+/Stable/B). The upgrade of the sovereign rating reflects India's strengthening external balance sheet due to reserves accumulation and prudent debt management, which should lower the external liquidity risk from its fiscal vulnerability. National Thermal Power Corp. Ltd. owns and operates coal, gas, and naphtha-based electricity generation units in India. It sells electricity wholesale to the state government-owned electricity utilities (SEUs). At March 31, 2004, NTPC had installed generation capacity of 21,435 MW, accounting...
Companies mentioned in this report are: NTPC Ltd.
Action: Outlook: Stable
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