Credit Ratings of Power Distribution Utilities in Northern Region of India | Asian Journal of Econom

The credit ratings of electricity distribution utilities in India's northern area have been discussed in this paper. The Ministry of Power, India developed an Integrated Rating Methodology in July 2012 to evaluate the performance of State Power Distribution utilities on a number of operational, financial, regulatory, and reform aspects. The credit quality of a distribution utility, according to the Investment Information and Credit Rating Agency of India Limited (ICRA) and Credit Analysis and Research Limited, India (CARE), is dependent on several factors, including the availability of a regulatory framework that allows for a "cost-plus" based tariff, the timeliness and adequacy of state government subsidy support, and the ability to improve operating efficiency levels while keeping costs low.

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