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HindustanTimes Thu,24 Apr 2014

Fitch Indian arm to start rating IDFs

PTI  New Delhi, May 13, 2013
First Published: 22:20 IST(13/5/2013) | Last Updated: 22:21 IST(13/5/2013)

The Indian arm of global agency Fitch will assign credit ratings to IDF so as to help instill confidence among global investors and provide thrust to the infrastructure sector, the government said on Monday.

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“India Ratings has come out with a new product for rating of IDFs (infrastructure debt fund). This is very important because this will give confidence to investors especially from overseas sovereign wealth fund and pension funds and others,” department of economic affairs secretary Arvind Mayaram said.

“For them to be able to assess whether their investments in a particular IDF or another IDF would be able to give the kind of return they expect,” he said.

The rating is going to be extremely helpful, he said after the MoU signing between eight banks and IL&FS Infrastructure Debt Fund.

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