Fitch rates IDAA Infrastructure loans BBB-(ind)

Fitch Ratings said it assigned BBB-(ind) ratings to IDAA Infrastructure Private Ltd.'s long-term project bank loans aggregating Rs.12,109.5 million.

The outlook is stable.

IDAA is a special purpose vehicle, sponsored by the IRB Group, which specializes in constructing and operating toll roads.

The ratings benefit from the toll road's location on a densely trafficked corridor where vehicles already use the existing four-lane road, Fitch said.

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