(The following was released by the rating agency)
SINGAPORE (Standard & Poor's) Oct. 3, 2012--Standard & Poor's Ratings Services today assigned its 'BBB-' foreign currency issue rating to a proposed issue of senior unsecured notes by Indian Railway Finance Corp. (IRFC; BBB-/Negative/--).
The potential size of the U.S.-dollar-denominated five-year notes is about US$300 million. The rating on the notes reflects the long-term counterparty credit rating on IRFC.
The proposed notes will constitute direct, unconditional, unsecured, and unsubordinated obligations of IRFC. They shall at all times rank at par among themselves and with all other unsecured obligations of IRFC. The rating on the notes is subject to our review of the final issuance documentation.
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Keywords: MARKETS RATINGS INDIANRAILWAYFINANCECORP