• search

ICRA assigns LAAA rating to IRFC's Rs 46.70 bln LTD prog

Written by: Staff
Subscribe to Oneindia News

New Delhi, May 4 (UNI) Credit rating agency ICRA today assigned LAAA rating to the Rs 46.70 billion long-term borrowing (LTD) programme of Indian Railway Finance Corporation Ltd (IRFC) for the financial year 2006-07, indicating highest credit quality and lowest credit risk.

The rating factors in IRFC's sovereign ownership and its important role as a sole arranger of lease finance for the Ministry of Railways (MoR).

The highest safety 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.

IRFC also mobilises funds on behalf of Rail Vikas Nigam Ltd, a special purpose vehicle of the MoR, which undertakes the construction of new railway lines.

UNI CS PV VC1448

For Breaking News from Oneindia
Get instant news updates throughout the day.

X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more