Railways is in talks with the ministry of corporate affairs to sort out the issue of IRFC
raises funds for capital investment in India's railway
The last rating action on IRFC
was on 13 February 2007 when Moody's
in the days to come is going to expand its footprint into the newer lines of business and will be able to use its 'minimum alternate tax' better because of which valuation of IRFC
can be much better," Goyal said at an event here.
The finance ministry had in an order issued recently clarified that the IRFC
bonds can be treated as approved security for investment above the exposure limits.
Since the National Infrastructure Investment Fund is a separate fund, it will be able to raise debt and, in turn, invest as equity in infrastructure finance companies like IRFC
This, he said, will enable the trust to raise debt and invest in equity of infrastructure finance companies such as the IRFC
and NHB and the companies in turn can then leverage this extra equity manifold.
Standard & Poor's also assigned its triple-'B' long-term and 'A-3' short-term local currency ratings to IRFC
The green bonds have been certificated by the Climate Bond Initiative (CBI), while the "Green Bond Framework" formulated by IRFC
has been verified by KPMG
There are about half- a- dozen companies-- including Rites, Ircon, IRFC
, IRCTC, and RailTel Corporation-- that are managed by the Railways.
The Reserve Bank of India has accorded its approval to IRFC
for raising USD200m via external commercial borrowings, Fitch said.
A consulting agreement allows IRFC
to check in with the franchise's field offices every six months to review operations and offer recommendations as necessary.