ICRA assigns 'AAA/Stable' rating on IndInfravit Trust's bank facilities, reaffirms rating

The Stable outlook on the rating reflects ICRA’s expectation that IndInfravit will continue to benefit from the diversified profile of its portfolio of assets.

Apr 28, 2021 10:04 IST India Infoline News Service

ICRA has assigned a long-term rating of [ICRA]AAA with Stable outlook to the Rs1,385.00cr bank facilities of the IndInfravit Trust and reaffirmed the long-term rating of [ICRA]AAA with Stable outlook for Rs1,675cr NCD borrowing programme and Issuer rating of the Trust.

The rating assigned to the Rs475cr proposed NCD programme has been reaffirmed at Provisional [ICRA]AAA (Stable) and is subject to the fulfilment and review of all pending actions/documentation pertaining to the facility rated by ICRA. The final rating may differ from the provisional rating in case the completed actions/documentation are not in line with ICRA’s expectations.

The Stable outlook on the rating reflects ICRA’s expectation that IndInfravit will continue to benefit from the diversified profile of its portfolio of assets, which along with comfortable leverage should help it in maintaining its robust debt coverage metrics and strong liquidity profile.

At around 10:10 AM, Indinfravit Trust was trading at Rs116.75 per piece higher by Rs7.85 or 7.21% on Sensex.

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