S&P assigns B to Indiabulls notes

S&P said it assigned a B rating to Indiabulls Housing Finance Ltd.’s planned U.S. dollar-denominated senior secured notes.

“We equalize the rating on the notes with the long-term issuer credit rating on Ibhfl (B/positive/B). The notes are the direct and unconditional obligation of the India-based finance company. They are secured and will rank equally, without any preference, with all other outstanding secured and unsubordinated obligations of the issuer,” the agency said in a press release.

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