By Ratnam Raju Nakka

India Ratings and Research (Ind-Ra) has withdrawn IL&FS Transportation Investment Trust’s (IL&FS Transportation InvIT) long-term debt rating of ‘Provisional IND AA+'. The Outlook was Stable. The withdrawal is at the request of the company.

KEY RATING DRIVERS

The withdrawal is at the request of the company as it is no longer proceeding with the instrument as envisaged. Ind-Ra will no longer provide ratings or analytical coverage of IL&FS Transportation InvIT.


COMPANY PROFILE

IL&FS Transportation InvIT was established under Indian Trusts Act 1882 by signing an indenture of trust dated 13 October 2016 with the trustee (Vistra ITCL (India) Ltd). As required by InvIT regulations, the InvIT appointed IIML Asset Advisors Limited (IAAL) as an investment manager and IL&FS Transportation Networks Limited (‘IND A’/RWN) as project manager. 


RATING HISTORY

Instrument Type

Current Rating

Historical Rating/Outlook

Rating Type

Rated Limits (million)

Rating

9 May 2017

Senior debt

Long-term

-

WD

Provisional IND AA+/Stable


COMPLEXITY LEVEL OF INSTRUMENTS

For details on the complexity levels of the instruments, please visit https://www.indiaratings.co.in/complexity-indicators.

SOLICITATION DISCLOSURES

Additional information is available at www.indiaratings.co.in. The ratings above were solicited by, or on behalf of, the issuer, and therefore, India Ratings has been compensated for the provision of the ratings. 

Ratings are not a recommendation or suggestion, directly or indirectly, to you or any other person, to buy, sell, make or hold any investment, loan or security or to undertake any investment strategy with respect to any investment, loan or security or any issuer.

ABOUT INDIA RATINGS AND RESEARCH

India Ratings and Research (Ind-Ra) is India's most respected credit rating agency committed to providing India's credit markets accurate, timely and prospective credit opinions. Built on a foundation of independent thinking, rigorous analytics, and an open and balanced approach towards credit research, Ind-Ra has grown rapidly during the past decade, gaining significant market presence in India's fixed income market. 

Ind-Ra currently maintains coverage of corporate issuers, financial institutions (including banks and insurance companies), finance and leasing companies, managed funds, urban local bodies, structured finance and project finance companies. 

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Analyst Names

  • Primary Analyst

    Ratnam Raju Nakka

    Associate Director
    India Ratings and Research Pvt Ltd Wockhardt Towers, 4th floor, West Wing Plot C-2, G Block. Bandra Kurla Complex Bandra (East), Mumbai 400051
    +91 22 40001742

    Committee Chairperson

    Venkataraman Rajaraman

    Senior Director and Head Infrastructure and Project Finance
    +91 44 43401702

    Media Relation

    Namita Sharma

    Manager – Corporate Communication
    +91 22 40356121