Printer Friendly

-Fitch rates Indian Railway Finance's offshore bond at BBB-.

M2 EQUITYBITES-May 12, 2011--Fitch rates Indian Railway Finance's offshore bond at BBB-(C)2011 M2 COMMUNICATIONS

12 May 2011 - Fitch set on Thursday a final BBB- rating with a "stable" outlook to the USD200m (EUR140.6m) offshore bond issue of Indian Railway Finance Corp Ltd (IRFC).

The assignment follows a review of the offering circular, the service specified said.

The Reserve Bank of India has accorded its approval to IRFC for raising USD200m via external commercial borrowings, Fitch said.

The borrowing adds to the external commercial borrowing raised by IRFC via 15-year senior unsecured term loans of JPY12bn (EUR147.9m/EUR104m).

Rating agency website:

((Comments on this story may be sent to

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:May 12, 2011
Previous Article:Cardinal Bank promotes branch managers Bradford K Leiby and Jose A Rodriguez II as VPs.
Next Article:BioFuel Energy Corp's net loss narrows to USD7.7m in 1Q 2011.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters