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Barclays cuts Power Finance rating; debt bailout impact limited

Source : REUTERS
Last Updated: Wed, Sep 26, 2012 06:41 hrs
An employee works on electric pylons at a power station in Greater Noida

Barclays Capital cut Power Finance Corp to 'underweight' from 'neutral', saying the state-run lender for power projects would see only a limited impact from the government bailout of state-owned electricity distributors (discom).

Barclays Capital adds Power Finance has limited discom exposure, and cites concerns about the recent run-up in its share prices.

Barcap maintains its target price on Power Finance at 155 rupees. Shares of the power lender were down 2.9 percent at 10.40 a.m.

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