2026-07-31

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Independent Power Producer Rating Scale and Definitions

The document defines the credit rating scale for Independent Power Producers, encompassing long-term ratings from AAA to D and short-term ratings from A1+ to A4, alongside definitions for rating modifiers such as Outlook, Watch, Suspension, and Withdrawal. It establishes that surveillance is conducted on an ongoing basis with comprehensive reviews at least every six months, and specifies that a suspended rating is considered withdrawn if not resumed within six months. These definitions and scales apply to methodologies including Broker Entity, Corporate, Debt Instrument, Financial Institution, Holding Company, Independent Power Producer, Microfinance Institution, and Non-Banking Finance Company ratings.

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