Fitch rates IVR Prime Urban Developers

Fitch Ratings said it assigned IVR Prime Urban Developers Ltd.'s Rs. 1.5 billion non-convertible debenture program a final rating of A+(ind)(SO). This is part of the total issue of Rs. 2.5 billion that was assigned an expected rating of A+(ind)(SO).

The assignment of a final rating is based on the receipt of the executed deed of guarantee. The rating is based solely on the basis of an unconditional and irrevocable corporate guarantee provided by IVRCL Infrastructure & Projects Ltd., which is rated A+(ind) with a stable outlook.

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