Fitch assigns Greenko notes B

Fitch Ratings said it assigned Greenko Dutch BV's proposed dollar-denominated senior notes an expected rating of B(EXP). The notes are guaranteed by Greenko Group plc.

Greenko Dutch is a subsidiary of Greenko, which is involved in hydro and wind power generation in India. Greenko plans to use the proceeds from the proposed notes to refinance existing debt at operating entities within a restricted group of companies that is defined in the indenture to the proposed note issue. The operating entities plan to issue Indian rupee-denominated bonds to Greenko Dutch as part of the debt refinancing.

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