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Fitch rates Indian Railway Finance bond BBB-
Fitch Ratings said it assigned Indian Railway Finance Corp.'s $200 million offshore bond issuance a final BBB- rating following a review of the offering circular.
The outlook is stable.
The Reserve Bank of India has accorded its approval to the company for raising $200 million through external commercial borrowings, Fitch said.
The borrowing is subsequent to the external commercial borrowing raised by Indian Railway Finance through 15-year senior unsecured term loans of ¥12 billion and ¥3 billion, the agency said.
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