Fitch affirms NTPC

Fitch Ratings said it affirmed NTPC Ltd.'s long-term foreign-currency issuer default rating at BBB-, along with the BBB- rating on its $200 million eurobond issue and its $1 billion medium-term note program.

The outlook is stable.

The ratings reflect its established business position as the largest electricity generator in India and its comfortable financial profile, including stable profitability and strong liquidity emanating from its cash and equivalents, Fitch said.

The company will remain a strategically important entity for the government of India in view of its large sectoral presence, which will strengthen further as it completes its large capacity addition program during the 11th five year plan, the agency said.

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