Mumbai, June 21 (UNI) ICRA has upgraded the rating outlook of JSPL subsidiary Jindal Power Limited from Negative to Stable.

The leading credit rating agency has reaffirmed Jindal Power Limited's long term credit rating of A - and short term credit rating of A2+.

The ratings outlook has been upgraded to stable for a credit portfolio of Rs 9888 crore, a release said

The revision of rating outlook to stable factors in the significant turnaround in credit profile of JPL's parent, JSPL during the past few quarters.

The ratings factor JPL's competitive capital cost as well as cost-efficient operations supported by the location of the plant in proximity to various coal blocks and linkage for part capacity. The ratings also continue to take into consideration revenue visibility emanating from long term and medium term PPAs in place for part of

JPL's capacity.

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