Fitch rates IRB Infrastructure A-(ind)

Fitch Ratings said it assigned IRB Infrastructure Developers Ltd. a national long-term rating of A-(ind), along with a national long- and short-term ratings of A-(ind) and F1(ind) to its Rs.3 billion long- and short-term non-fund based limits.

The outlook is stable.

The ratings reflect IRB's status as a holding company with investments in road infrastructure projects, its full stake in its engineering, procurement and construction arm, a track record of project execution and a portfolio of strong operating assets, Fitch said.

These factors are counterbalanced to an extent by the risks associated with projects under implementation, the agency said.

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