Intimation of credit rating by S&P Global Ratings
TATAPOWER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
S&P Global Ratings upgraded Tata Power's long-term issuer credit rating to 'BBB' with a stable outlook, up from 'BBB-' with a positive outlook, on August 14, 2025. The upgrade came alongside similar moves on ONGC, Power Grid, and NTPC, and was triggered by India's sovereign rating upgrade from 'BBB-' to 'BBB'. S&P cited Tata Power's predictable regulated cash flows and prudent growth in renewable energy, expecting its FFO-to-debt ratio to stay above 10% over the next two to three years. The rating includes a three-notch uplift from its 'bb' standalone profile, reflecting expected extraordinary support from Tata Sons. A downgrade could follow if leverage pushes the FFO-to-debt ratio below 10% sustainably or if India's sovereign rating is cut.
This is a positive credit signal for Tata Power, lowering its borrowing costs and strengthening investor confidence. Investment-grade status with stable outlook suggests stable financial health in the near term, though large capex plans may keep leverage elevated.