...Fitch Ratings has affirmed Northern Power Corporation's (EVNNPC) Long-Term Foreign-Currency Issuer Default Ratings at 'BB+' with a Stable Outlook. Fitch has also revised EVNNPC's Standalone Credit Profile (SCP) to 'bb+' from 'bb'. EVNNPC's rating is driven by its SCP, in line with Fitch's Parent and Subsidiary Linkage Rating Criteria, as the SCP is at the same level as its parent Vietnam Electricity's (EVN, BB+/ Stable) credit profile. The SCP revision follows a similar revision for EVN and reflects Vietnam's improving record of tariff adjustments over the past three years under its electricity regulations. The government has recently amended regulations to allow quarterly, rather than half-yearly, tariff revisions as part of its broader policy direction towards a more cost-effective framework. This will benefit the long-term financial profile of EVN and its five distribution entities, including EVNNPC....
