The Hindu Business Line : S&P upgrades IRFC rating

With Standard & Poor's upgrading Indian Railway Finance Corporation's (IRFC) credit rating to BBB- from BB+, the Railways financing arm hopes to be able to mobilise funds from external markets at attractive rates.

In a statement issued on Wednesday, IRFC stated that it now has three investment ratings for its offshore borrowings and expects to mobilise resources from external commercial markets at even tighter pricing. It is now selling bonds worth 15 billion yen ($123 million) in the Japanese market.

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