S&P affirms Indian Railway

Standard & Poor's said it affirmed its BB+ foreign currency debt rating on Indian Railway Finance Corp.

The outlook is positive.

"The ratings on IRFC reflect its integral relationship with the government of India (BB+/positive/B), as Indian Railway is the only agency that provides market funding for Indian Railways' purchase of rolling stock locomotives, passenger coaches and freight wagons," S&P credit analyst Sani Hamid said.

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