This is to inform you that Fitch Ratings has upgraded the International Long-Term Issuer Default Rating on IRB Infrastructure Developers Limited's to 'BB+' from 'BB', and removed the rating from Rating Watch Positive. The Outlook is Stable.
India Sovereign International rating by the Fitch Ratings is one notch higher, than current issuance for IRB, at BBB- with negative outlook.
For rating rationale & other information, please refer communication from Fitch Rating at https://www.fitchratings.com/site/pr/10193280
IRB Infrastructure Developers Ltd. published this content on 12 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 February 2022 06:51:01 UTC.
IRB Infrastructure Developers Limited is an India-based infrastructure development company. The Company is engaged in constructing roadways and highways. The Company is involved in engineering, procurement and construction (EPC), and operation and maintenance across all its businesses. The Company operates through two segments: Operate and Transfer (BOT)/ Toll Operate and Transfer (TOT) and Construction. The BOT/ TOT segment is engaged in the operation and maintenance of roadways. The Construction segment is engaged in the development of roads. It manages and operates over 12000 lane kilometers (km) across 22 assets. Its 22 projects are held under three entities; it owns seven projects, which include 1 TOT, 2 BOT and 4 HAM projects, a private infrastructure investment trust owned 10 BOT projects, of which the Company owns a 51% stake, and a public infrastructure investment trust owns five BOT projects, of which IRB owns 16% stake.
IRB INFRASTRUCTURE DEVELOPERS LIMITED 
