ICRA reaffirms LAAA rating to IRFC's long term borrowing prog

New Delhi, Apr 19 (UNI) Credit rating agency ICRA has reaffirmed the LAAA rating to the various long-term borrowing programmes of Indian Railway Finance Corporation Ltd (IRFC).

The rated instruments carry lowest credit risk and indicate highest credit quality.

The ratings factor in IRFC's sovereign ownership and its strategically important role as a sole arranger of lease finance for the Ministry of Railways (MoR). The rating also takes into account the lease agreement between IRFC and MoR, which provides IRFC with a positive interest spread and protects it against liquidity, interest rate and currency risks.

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