ICRA rating for PGCIL

Mumbai, May 18 (UNI) Power grid corporation of India Limited (PGCIL) has been given 'LAAA' rating by ICRA for its proposed Rs 38.02 billion long-term borrowing programme for 2007-08.

ICRA also reaffirmed the LAAA ratings for the existing Rs 114.43 billion long-term bonds programme and A1+ ratings assigned to Rs 6.50 billion short-term debt programme of PGCIL.

PGCIL is India's central transmission utility and the sole entity authorised to act as the national grid manager.

The corporation owns and operates over 55,000 circuit km of high voltage transmission lines spread across the country.

UNI