Fitch assigns stable rating to WBIDFC debt programme
Global rating agency Fitch has assigned stable rating to the Rs 1,000 crore long-term debt programme of West Bengal Infrastructure Development Finance Corporation (WBIDFC).
By PTI |
NEW DELHI: Global rating agency Fitch has assigned stable rating to the Rs 1,000 crore long-term debt programme of West Bengal Infrastructure Development Finance Corporation (WBIDFC).
The agency has assigned National 'A (ind) (SO)' rating with stable outlook to the Corporation's programme, it said in a release here.
At the same time, the agency has also affirmed the 'A (ind) (SO)' rating to WBIDFC's existing Rs 10 billion (Rs 1000 crore) long-term debt programme.
The rating takes support from WBIDFC's recurring/fixed deposits specifically set up for repayment to bondholders, which alongwith interest would aggregate to the amount due to the bondholders on maturity.
The rating draws "additional comfort" from WBIDFC's policy of liquidity management that envisages maintaining the ratio of investments with commercial banks and financial institutions at 15 per cent of total debt, the release said.
The agency has assigned National 'A (ind) (SO)' rating with stable outlook to the Corporation's programme, it said in a release here.
At the same time, the agency has also affirmed the 'A (ind) (SO)' rating to WBIDFC's existing Rs 10 billion (Rs 1000 crore) long-term debt programme.
The rating takes support from WBIDFC's recurring/fixed deposits specifically set up for repayment to bondholders, which alongwith interest would aggregate to the amount due to the bondholders on maturity.
The rating draws "additional comfort" from WBIDFC's policy of liquidity management that envisages maintaining the ratio of investments with commercial banks and financial institutions at 15 per cent of total debt, the release said.
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