Fitch Ratings has revised POWERGRID’s Stand-Alone Credit Profile (SCP) to ‘bbb’ from ‘bbb+’ effective February 12, 2026. This adjustment is solely due to an analytical recalibration under Fitch’s revised Corporate Rating Criteria concerning the Operating Environment Assessment. Importantly, the company’s Long-Term Issuer Default Ratings (IDRs) remain unchanged at ‘BBB-’ with a Stable Outlook, aligning with the sovereign rating. No changes were noted in the company’s business fundamentals, financial performance, or liquidity.
Credit Rating Update Announced
POWERGRID announced a revision in its credit rating profile as of February 12, 2026. The notification confirms that Fitch Ratings has adjusted the company’s Stand-Alone Credit Profile (SCP).
Details of the SCP Revision
The SCP has been revised downwards from ‘bbb+’ to ‘bbb’. This change is a direct result of an analytical recalibration stemming from the application of Fitch Ratings’ revised Corporate Rating Criteria, specifically impacting the Operating Environment Assessment.
No Impact on Core Financial Health
The company emphasized that this revision does not reflect any adverse change in POWERGRID’s core business fundamentals, its current financial performance metrics, or its overall liquidity position. The adjustment is purely methodological based on the rating agency’s updated framework.
Issuer Default Ratings Remain Stable
Crucially, the announcement confirmed that POWERGRID’s sovereign-linked ratings are unaffected. Both the Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) remain unchanged at ‘BBB-’, supported by a Stable Outlook, which is consistent with the prevailing sovereign rating.
Source: BSE
