April 27, 2024 08:38 (IST)
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India Power credit rating upgraded to Double A minus
Kolkata, Jan 30 (IBNS): India Power Corporation Limited, a premier private sector power generation and distribution company has been assigned long term credit rating of AA- (pronounced double A minus) by Brickwork Ratings, for company's NCD programme of Rs. 300 crore.
The Credit rating is a notch up from its last credit rating of A+ (pronounced A plus). The upgrade in the rating implies consistent demonstration of robust business model the company has adopted.
India Power Corporation Limited is an integrated energy provider with present operations spread over various states of the country. T
he company, through its associate, is developing a 450 (3x150)MW coal based thermal power project at Haldia in the state of West Bengal.
The company has power distribution area of around 2200 sq. kms in West Bengal and Bihar and is presently distributing about 450 MVA of power in its command area to over 1.1 lakh consumers. The company also has wind mills having an aggregate capacity of over 95 MW.
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