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Informist, Tuesday, Jun. 23, 2026

--Fitch assigns 'BBB-' rating to PFC's senior unsecured US dollar bond 

MUMBAI – Fitch Ratings Tuesday assigned an expected rating of 'BBB-' to Power Finance Corp. Ltd.'s senior unsecured dollar-denominated bond, the rating agency said. Fitch said the bond has been issued from PFC's existing $8 billion global medium-term note programme.

"PFC will use the net proceeds from the notes to refinance debt and for general corporate purposes, in line with Reserve Bank of India guidelines," Fitch said.

It said any downgrade of PFC's long-term issuer default rating would lead to a similar change in the rating of the bond. PFC's long-term issuer default rating may be downgraded on negative rating action on the Indian sovereign rating, reducing the support score to below 45.

Fitch said an upgrade of PFC's long-term issuer default rating would result in a similar change to the rating of the bond. PFC's long-term issuer default rating may be upgraded on positive action on the Indian sovereign rating, provided there is no weakening in the support score.

For the quarter ended March, PFC reported a net profit of INR 63.25 billion on revenues of INR 153.19 billion. At 1519 IST, shares of the company were at INR 431.20 on the National Stock Exchange, down over 2%.  End

US$1 = INR 95.76

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by J. Navya Sruthi

Edited by Avishek Dutta

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