Fitch rates Infoline notes BB-

Fitch Ratings said it assigned expected ratings of BB- to India Infoline Finance Ltd.'s proposed senior secured notes to be issued under its $1 billion medium-term note program. Fitch also rates India Infoline BB- with a stable outlook.

The proposed notes will be secured obligations of the company, at all times ranking pari passu and without any preference among themselves. The notes will be secured with property that includes all receivables/assets of the issuer but excludes all fixed deposits and other assets notified by the issuer to the security trustee.

The proceeds will be used for on-lending and to support business growth.

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