Fitch confirms Krishna Bhagya Jala Nigam notes

Fitch Ratings said it confirmed Krishna Bhagya Jala Nigam Ltd.'s forthcoming upsized 7.5 billion rupee issue with a 2.5 billion rupee greenshoe option at expected rating of Fitch AA-(SO)(ind)(exp).

The upsized issue will benefit from unconditional and irrevocable guarantee from the government of Karnataka for the principal and interest obligations until the bond is paid in full, the agency added.

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