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Reliance Infrastructure disagrees with downgrade by India Ratings

Reliance Infrastructure stressed that series of steps were undertaken with regard to asset monetisation

Press Trust of India  |  New Delhi 

Reliance Infrastructure disagrees with downgrade by India Ratings

Infrastructure on Friday said that it disagrees with the decision by credit rating agency and Research (Ind-Ra) to downgrade its over the delay in the proposed reduction plans of the firm.

The company said that it "respectfully" disagrees with the views of India Ratings, Infrastructure said in a filing to


"has revised its rating to IND A+(SO) (RWN) on the company's regulatory asset debt, IND A1 (RWN) on the company's short-term and commercial papers and IND A (RWN) on the company's long-term (bank facilities and non-convertible debentures," it said adding that is of view that there has been delay in the proposed reduction plan of the company," the company said.

Infrastructure stressed that series of steps were undertaken with regard to which includes the filing of offer document to divest roads business through InvIT, constant discussions with regard to divesting Mumbai Power and transmission business.

In addition, the company recently won Rs 4,700 crore arbitration award with regard to Delhi Airport Metro Express project, the filing said, adding that the activities will empower Infrastructure to become debt-free.

The company said that it is of the view that did not appropriately factor in the above measures taken by the company while assigning the rating.

First Published: Fri, October 06 2017. 17:39 IST
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