S&P rates Indian Railway Finance notes BBB-

Standard & Poor's said it assigned its BBB- foreign currency issue rating to a proposed issue of U.S.-dollar-denominated senior unsecured notes by Indian Railway Finance Corp. (IRFC: BBB-/negative/--).

S&P said the rating on the notes reflects the long-term counterparty credit rating on IRFC.

The long-term issuer credit rating on IRFC is equalized with the sovereign credit rating on India to reflect S&P's opinion of an "almost certain" likelihood of timely and sufficient extraordinary government support to IRFC in the event of financial distress.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.