India Ratings assigns ‘AAA’ rating to NHPC’s non-convertible taxable bonds

India Ratings & Research (Ind-Ra) has assigned NHPC’s Rs 1600 crore secured non-convertible taxable bonds a final long-term ‘AAA’ rating. The bonds will be raised in two tranches- S1 with a tenor of 10 years with no moratorium and S2 with a tenor of 15 years including a three year moratorium period.  The funds raised will be used by NHPC to meet capital expenditure requirements of the on-going projects and recoup the expenditure already incurred. NHPC is an Indian Hydro Power Generation company that was incorporated with an objective to plan, promote and organize an integrated and efficient development of hydroelectric power in all aspects.