Home Credit Ratings and Research S&P Global Ratings’ Credit Research State Grid Corp. of China

Summary: State Grid Corp. of China

Published May 16, 2013

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Abstract:

Foreign Currency: AA-/Stable Local Currency: AA-/Stable Greater China Regional Scale: cnAA/-- Monopoly in power transmission and distribution in its service area. Excellent operating performance in ensuring grid safety and stability. Strong capability in power technology research and development. Operating challenges because of rapid development of renewable energy and construction of sizable ultra high voltage (UHV) projects. Lack of a transparent tariff-setting mechanism for transmission and distribution of power in China. Steady and robust operating cash flows. Substantial capital injection or subsidy from government. Modest negative free operating cash flow and possible rise in debt because of large capital expenditure. Strong liquidity and financial flexibility. The stable outlook on SGCC reflects our expectation that the company will maintain its excellent market

Report Type:

Summary

Issuer

State Grid Corp. of China

Sector

Global Issuers

Country

China

Region

Emerging Markets

Format:

HTML

Research Update: State Grid Corp. of China 'AA-' Rating Affirmed On Continuing Strong Business Performance And Cash Flows; Outlook Stable – 2014/04/03 – US$ 225.00

State Grid Corp. of China's U.S. Dollar Guaranteed Senior Notes Assigned 'AA-' And 'cnAAA' Ratings – 2014/04/16 – US$ 150.00

State Grid Corp. of China – 2014/04/25 – US$ 500.00

Summary: State Grid Corp. of China – 2014/04/25 – US$ 225.00

State Grid Corp. of China 'AA-' Rating Affirmed On Continuing Strong Business Performance And Cash Flows; Outlook Stable – 2014/05/16 – US$ 150.00

State Grid Corp. of China – 2013/05/16 – US$ 500.00

Research Update: S&PCORRECT: State Grid Corp. of China And Its Proposed Guaranteed Notes Rated 'AA-' And 'cnAAA'; Outlook Stable – 2013/05/08 – US$ 225.00

S&PCORRECT: State Grid Corp. of China And Its Proposed Guaranteed Notes Rated 'AA-' And 'cnAAA'; Outlook Stable – 2013/05/08 – US$ 150.00

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MLA:	S&P Global Ratings’ Credit Research. "Summary: State Grid Corp. of China" May 16, 2013. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-State-Grid-Corp-of-China-1132737>

APA:	S&P Global Ratings’ Credit Research. (). Summary: State Grid Corp. of China May 16, 2013. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-State-Grid-Corp-of-China-1132737>

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