Notes unsecured and unconditional

S&P Global Ratings has assigned its ‘BBB-‘ long-term foreign currency issue rating to Indian Railway Finance Corp’s (IRFC; BBB-/Stable/–) proposed US$500 million notes due 2024.

The notes are drawn down from IRFC’s US$2 billion euro medium-term note (MTN) program, also rated ‘BBB-‘, said S&P Global in a release on 26 Mar 2019.

The notes represent direct, unconditional, unsecured, and unsubordinated obligations of IRFC, and rank equally with the company’s other unsecured and unsubordinated debt obligations. fiinews.com