S&P rates India Infrastructure BBB-

Standard & Poor's said it assigned BBB- long-term foreign- and local-currency issuer credit ratings on India Infrastructure Finance Co. Ltd.

The outlook is stable.

S&P said ratings are supported by the company's position as the nodal agency for the government of India (BBB-/stable/A-3) to promote long-term financing of the infrastructure sector.

Ratings benefit from the support it receives from the government, including the use of guarantees and capital injections. This support results in ratings being equalized to that of the sovereign, the agency said.

The company's low capitalization levels and moderate earnings profile constrain its standalone creditworthiness, S&P said.

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