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

28 Feb 2014

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.

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