Fitch has affirmed investment grade rating with 'stable' outlook on state-run Power Grid Corporation of India Ltd. "At the same time, the agency has affirmed Power Grid's senior unsecured rating and the ratings on its $500 million senior unsecured notes at 'BBB-'," Fitch Ratings said in a statement. 'BBB' ratings indicate low default risk. The capacity for payment of financial commitments under this is considered adequate although adverse business or economic conditions are more likely to impair this capacity.
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