INDIA POWER CORPORATION LTD : CREDIT RATING DOWNGRADED TO IVR C

• Infomerics Valuation and Rating Ltd has downgraded the credit rating for India Power Corporation Limited's long-term bank facilities to IVR C from IVR B- • The rating is placed under a 'Rating Watch with Negative Implications downgraded' • Short-term rating reaffirmed at IVR A4 with 'Rating Watch with Negative Implications reaffirmed' • Downgrade reflects delayed debt servicing obligations and the admission of CIRP proceedings against the company • The 'Rating Watch with Negative Implications' highlights uncertainty from management control transfer to IRP • Ratings also factor in ongoing legal proceedings before NCLAT and potential impact on financials

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