Fitch rates Infrastructure Development bonds AAA(ind)

Fitch Ratings said it assigned Infrastructure Development Finance Co. Ltd.'s Rs. 29.29 billion long-term infrastructure bonds a national long-term rating of AAA(ind).

The bonds with a face value of Rs. 5 billion each mature after 10 years and have a five-year lock-in period.

The 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 said.

The ratings also reflect Infrastructure Development's ability to diversify its funding profile, given its status as an infrastructure finance company, the agency said.

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