Fitch affirms Infrastructure Development Finance

Fitch Ratings said it affirmed Infrastructure Development Finance Co. Ltd.'s national long-term rating at AAA(ind), along with Rs. 90 billion non-convertible debentures at AAA(ind), Rs. 29.29 billion long-term infrastructure bonds at AAA(ind), Rs. 15 billion zero-coupon bonds at AAA(ind) and Rs. 270 billion long-term debt program at AAA(ind).

The outlook is stable.

The ratings reflect its strong track record in financing infrastructure projects, ability to diversify its funding profile, given its status as an infrastructure finance company, and strong financial profile in terms of capitalization and profitability, Fitch said.

The ratings also factor in the company's risk management practices, which have helped it well-manage concentration and credit risks, the agency said.

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