Printer Friendly

-Air-India Charters' debenture programme earns final AAA(ind)(SO) rating from Fitch.

M2 EQUITYBITES-February 3, 2011--Air-India Charters' debenture programme earns final AAA(ind)(SO) rating from Fitch(C)2011 M2 COMMUNICATIONS

3 Februiary 2011 - Fitch set on Thursday a final AAA(ind)(SO) rating to the INR950m (USD20.8m/EUR15.1m) non-convertible debenture (NCD) programme of Indian carrier Air-India Charters Ltd (AICL).

The final rating factors in the execution of the debenture trust deed and deed of guarantee and indemnity, coinciding with the information already obtained, the agency said.

The rating takes into account the absolute, unconditional and irrevocable guarantee extended by the Government of India, which ensures the timely repayment of both principal and interest.

The rating also draws comfort from the guarantee structure, which provides for the due and timely payment of debt service, as the guarantee is legal, valid and binding even in the event AICL goes bankrupt and files for protection, Fitch added.

((Comments on this story may be sent to>PDFebruary 3, 2011>JNM2 EQUITYBITES.PRICEDATENOT APPLICABLE.DAY

COPYRIGHT 2011 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Feb 3, 2011
Previous Article:-Air India's debenture programme gets final AAA(ind)(SO) rating from Fitch.
Next Article:-Fitch worsens Egypt's ratings on political unrest.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters