Fitch Revises Power Grid's Standalone Credit Profile to 'bbb' from 'bbb+'
Fitch Ratings revised Power Grid's standalone credit profile (SCP) to 'bbb' from 'bbb+'. The company's Long-Term Issuer Default Ratings (IDRs) remain 'BBB-' with a Stable Outlook. The revision is due to analytical recalibration under new criteria and does not impact business fundamentals or financial performance.
The revision in the standalone credit profile (SCP) is based on Fitch's updated rating criteria and does not affect the company's Long-Term Issuer Default Ratings (IDRs) or its Stable Outlook. Therefore, the immediate impact on the company is considered low.
The credit rating revision is primarily due to a change in Fitch's rating methodology rather than a deterioration in the company's financial health or business performance. The core Issuer Default Ratings remain unchanged, indicating a neutral impact.
Power Grid Corporation of India Limited (POWERGRID) has announced an update regarding its credit rating. Fitch Ratings, in a communication dated February 12, 2026, revised the company's standalone credit profile (SCP) from 'bbb+' to 'bbb'. This revision is primarily attributed to an analytical recalibration under Fitch Ratings' revised Corporate Rating Criteria, specifically concerning the Operating Environment Assessment.
Fitch clarified that this change in SCP does not reflect any alteration in POWERGRID's fundamental business operations, financial performance, or liquidity position. Importantly, the company's Long-Term Issuer Default Ratings (IDRs) for both foreign and local currency remain unchanged at ‘BBB-’, maintaining a Stable Outlook, which is in alignment with the sovereign rating.
The company has submitted this disclosure in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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Power Grid Corporation of India Limited filed this with the NSE as a statutory disclosure, categorised under credit ratings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Power Grid Corporation of India Limited. Read the original for the full detail.