S&P rates Infrastructure Development credit

Standard & Poor's said it assigned its BBB- long-term and A-3 short-term counterparty credit ratings to Infrastructure Development Finance Co. Ltd.

The outlook on the long-term rating is stable.

"The ratings on IDFC reflect the company's strong capital and earnings profile, strong management, and adequate credit risk management," said S&P credit analyst Geeta Chugh in a news release. "IDFC's moderate market position and higher market risk emanating from equity investments constrain the ratings."

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