S&P affirms Napocor’s ‘BBB’ rating

STANDARD & Poor’s (S&P) Global Ratings is maintaining its ‘BBB’ long-term issuer credit rating, with a stable outlook, for National Power Corp. (Napocor).

“We affirmed the rating to reflect our opinion that there is an almost certain likelihood that the Philippines (BBB/Stable/A-2) would provide timely and sufficient extraordinary support to National Power in the event of financial distress,” S&P said in a statement  on Wednesday.