India Ratings and Research has resolved the Rating Watch with Developing Implications on Tamil Nadu Power Distribution Corporation Limited, following the successful restructuring and distribution of assets and liabilities of the erstwhile Tangedco, as a part of the bifurcation process.
The Union Ministry of Corporate Affairs had approved the State government decision to restructure Tangedco into two separate entities — Tamil Nadu Power Generation Corporation Limited (TNPGCL) for generation, and Tamil Nadu Power Distribution Corporation Limited (TNPDCL) for distribution.
