Brickwork Ratings (BWR) has withdrawn the rating of D for the NCD amounting to Rs 418.70 crore and BWR C for the NCD amounting to Rs 50 crore of Reliance Infrastructure as the company has repaid the NCDs from the funds received from the sale of Integrated Mumbai Distribution Business to Adani Transmission.
The company has completed a transformational transaction of sale of its Mumbai Power Business and entire proceeds was used to pay debt including the above mentioned NCDs. The company had informed the bond holders that they would be paid out of the proceeds of the transaction.
RInfra is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector.
