Power Grid Corporation of India Limited has informed the Exchange about Credit Rating
POWERGRID · price
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S&P Global Ratings has upgraded Power Grid Corporation's issuer credit rating and issue ratings to 'BBB' from 'BBB-', with a stable outlook. The upgrade follows the recent upgrade of India's sovereign credit rating to 'BBB/A-2' from 'BBB-/A-3' on August 14, 2025. Power Grid's stand-alone credit profile (SACP) has been maintained at 'bbb+', and the final rating remains capped by the sovereign rating on India. The stable outlook mirrors the outlook on India's sovereign credit rating, meaning any change in the sovereign rating would directly affect Power Grid's rating. Similar upgrades were also given to ONGC, NTPC, and Tata Power as a result of the sovereign upgrade.
This is a positive development for shareholders — the upgrade signals stronger creditworthiness and should help Power Grid raise debt at lower borrowing costs going forward. However, since the rating is capped by India's sovereign rating, further upgrades will depend on both sovereign and company-specific factors like capex and collections from state electricity utilities.