Credit rating agency, CARE has reaffirmed ‘AA- (SO)’ rating to IRB Infrastructure Developers’ long-term bank facilities worth Rs 420 crore which was reduced from Rs 500 crore. The reaffirmation of the rating assigned to the aforementioned bank facility of IRB continues to derive strength from the credit enhancement extended by MIPL to service the rated debt, in case of exercise of put option, from the latter’s cash surpluses generated.
IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.
