Fitch affirms Indian Railway

Fitch Ratings said it affirmed Indian Railway Finance Corp. Ltd.'s long-term foreign- and local-currency issuer default ratings at BBB-, national long-term rating at AAA(ind) and national short-term rating at F1+(ind).

The outlook on the long-term foreign-currency issuer default rating and national long-term rating remains stable, while the outlook on the long-term local-currency issuer default rating remains negative.

The ratings reflect an expectation that the company will continue to receive strong sovereign support, Fitch said.

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