Credit Rating state electricity boards

Abstract

With state electricity boards (SEBs) emerging as leading buyers from independent power producers (IPPs), their credit quality assessment is an important concern for both IPPs and lenders. The electricity boards of Kerala, Karnataka, Ut tar Pradesh, Orissa and Madhya Pradesh have been assessed on two critical dimensions, namely business and financial risks and the moot question as to whether business can be done with SEBs has been raised.