IL&FS is the Group Holding Company and has investments in various business verticals.  IL&FS Group Companies are involved in infrastructure projects sponsorship and development in addition to advisory services, investment banking, and asset management and other financial services related activities

ICRA has reaffirmed its “ICRA AAA” rating with stable outlook with regard to the Long Term Debt issued by IL&FS for an amount of Rs 1,660 crores (current outstanding Rs 832 crores) including new Long Term Rating for Non Convertible Debentures aggregating to Rs 500 crores to be issued by IL&FS.  

ICRA in addition has also reaffirmed its “ICRA A1+” rating of Short Term Debt instruments of Rs 500 crores (current outstanding Rs 325 crores)

The ratings factor in IL&FS’s established track record in the infrastructure domain, steady earning profile and stable profitability marked by divestments at regular intervals, interest income from loans to Group Companies, dividend income and lease rental income.  

ICRA has also factored IL&FS’s demonstrated ability of successfully sponsoring and / or divesting investments at regular periods across various sectors and its impending conversion into a Core Investment Company (CIC-ND-SI).  

The ratings also take into account the sound reported asset quality indicators, high level of contingency provisions that could partly mitigate future asset quality shocks and comfortable asset liability profile with the Company increasing the tenure of its borrowings

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