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Ind-Ra assigns ‘A (exp)’ rating to IL&FS Transportations Networks’ Proposed NCD Programme

28 Feb 2014 Evaluate

Ind-Ra has assigned ‘A (exp)’ rating to IL&FS Transportations Networks’ proposed Rs 5 billion non-convertible debenture (NCD) programme including Rs 3 billion green shoe option.

The company has received the rating on the back of strong presence in the surface transportation segment with one of largest road project portfolio spreads across India comprising a fair mix of annuity and toll road projects.

IL&FS Transportation Networks has been involved in the development, operation and maintenance of national and state highways, roads (including urban roads), flyovers and bridges in Andhra Pradesh, Delhi, Gujarat, Maharashtra, Karnataka, Uttar Pradesh, Kerala, Jharkhand and Rajasthan.

Peers
Company Name CMP
Larsen & Toubro 3654.10
Kalpataru Projects 1344.15
NCC 127.60
Rail Vikas Nigam 194.50
KEC International 343.35
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