Fitch rates India Infrastructure Finance

Fitch Ratings said it assigned India Infrastructure Finance Co. Ltd.'s Rs. 4 billion unsecured redeemable non-convertible taxable rupee bonds (series I and II 2008-09) and Rs. 100 billion unsecured redeemable non-convertible tax-free rupee bonds (series I 2008-09) final national ratings of AAA(ind)(SO). The agency said it affirmed the company's Rs. 2 billion unsecured redeemable non-convertible taxable rupee bonds (series I 2007-08) at AAA(ind)(SO).

The action follows the receipt of the signed guarantee documents conforming to information already received, Fitch said.

The rating was based on the unconditional and irrevocable guarantee to be issued by the Government of India for the rated debt program, covering payment of principal and all accrued interest, the agency said.

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