Crisil Withdraws Its ‘D’ Ratings for Reliance Infrastructure’s Non Convertible Debentures Totalling Rs. 710 Crore

Deepthi | Myequity news | Date : 05-09-2018 11:30:00 IST

Crisil has withdrawn its ‘D’ ratings for Non Convertible Debentures (NCDs) of Reliance Infrastructure’s totalling Rs. 710 crore. The company has repaid the NCDs from the funds received from the sale of Integrated Mumbai Distribution Business to Adani Transmission. The company had informed the NCD holders that they would be paid out of the proceeds of the transaction.

Earlier, Brickwork (BWR) has withdrawn its ‘D’ rating for the NCDs amounting to Rs. 418.70 crore and BWR C for the NCD amounting to Rs. 50 crore of Reliance Infrastructure.

The company last week completed a transformational transaction of sale of its Mumbai Power Business and entire proceeds were used to pay off above mentioned debt and NCDs.

About Reliance Infrastructure Limited:

Reliance Infrastructure Ltd is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector. Reliance Infrastructure Limited is also a leading utility company having presence across the value chain of power businesses i.e. Generation, Transmission, Distribution and Power Trading.

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