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Entity-Specific Rating Rationales

22 Apr 2026

Power Grid Corporation of India Limited: BLR ratings reaffirmed and assigned for enhanced amount; Existing NCDs and CP ratings reaffirmed and new NCDs rating assigned

Power Grid Corporation of India Limited: BLR ratings reaffirmed and assigned for enhanced amount; Existing NCDs and CP ratings reaffirmed and new NCDs rating assigned

18 Dec 2025

Power Grid Corporation of India Limited: Ratings reaffirmed

Power Grid Corporation of India Limited: Ratings reaffirmed

20 Nov 2025

Power Grid Corporation of India Limited: Ratings Reaffirmed; Assigned for Non-Convertible Debentures

Power Grid Corporation of India Limited: Ratings Reaffirmed; Assigned for Non-Convertible Debentures

14 Nov 2025

Power Grid Corporation of India Limited: Withdrawn for Redeemed amount and Change in Limits for BLR

Power Grid Corporation of India Limited: Withdrawn for Redeemed amount and Change in Limits for BLR

08 Apr 2025

Power Grid Corporation of India Limited: Ratings for bank facilities and commercial paper reaffirmed; non-convertible debentures reaffirmed and assigned

Power Grid Corporation of India Limited: Ratings for bank facilities and commercial paper reaffirmed; non-convertible debentures reaffirmed and assigned

18 Oct 2024

Power Grid Corporation of India Limited: Bank Facilities and Commercial Paper Program ratings reaffirmed; Non-Convertible Debentures reaffirmed and assigned

Power Grid Corporation of India Limited: Bank Facilities and Commercial Paper Program ratings reaffirmed; Non-Convertible Debentures reaffirmed and assigned

16 Apr 2024

Power Grid Corporation of India Limited: Ratings reaffirmed & assigned for enhanced amount

Power Grid Corporation of India Limited: Ratings reaffirmed & assigned for enhanced amount

08 Feb 2024

Power Grid Corporation of India Limited: Ratings reaffirmed

Power Grid Corporation of India Limited: Ratings reaffirmed

16 Jun 2023

Power Grid Corporation of India Limited: Ratings reaffirmed; rating amount enhanced

Power Grid Corporation of India Limited: Ratings reaffirmed; rating amount enhanced

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Entity-Specific Credit Perspective Reports

19 Jan 2026

Power Grid Corporation of India Limited

Power Grid Corporation of India Limited (Non-SF)

15 Nov 2024

Power Grid Corporation of India Limited

Power Grid Corporation of India Limited (Non-SF)

15 May 2024

Power Grid Corporation of India Limited

Power Grid Corporation of India Limited (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Long-term/Short-term – Fund-based/Non-fund based – Others [ICRA]A1+ -- [ICRA]AAA(Stable) --
Long-term – Fund-based – Term Loan -- -- [ICRA]AAA(Stable) --
Long-term – Unallocated limits – Unallocated limits -- -- [ICRA]AAA(Stable) --
Long-term – Fund-based – Term Loan -- -- [ICRA]AAA(Stable) --
Borrowing Programme -- -- [ICRA]AAA(Stable) --
Bonds/NCD/LTD -- -- [ICRA]AAA(Stable) --
Borrowing Programme -- -- Withdrawn --
Borrowing Programme -- -- Withdrawn --
Borrowing Programme [ICRA]A1+ -- -- --
Commercial Paper [ICRA]A1+ -- -- --

Our Analysts

Analyst 1

Venkatesh Joshi

Analyst 2

Asmita Pant

Sector Head

Girishkumar Kashiram Kadam
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