Fitch affirms Infrastructure Development

Fitch Ratings said it affirmed Infrastructure Development Finance Co. Ltd.'s national long-term rating, Rs. 90 billion debentures and Rs. 15 billion zero-coupon bonds at AAA(ind).

The outlook is stable.

The agency said the company's ratings reflect its strong track record in financing infrastructure projects, strong capitalization, diversity of income streams and risk-management practices, which have helped it manage concentration and credit risks well.

Fitch noted that concentration risk and those for delays in the completion of the projects in the company's loan book remain, but the agency said these are mitigated by the factors mentioned above.

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