...In recent months, Fitch Ratings has rated the debt of a number of infrastructure project finance vehicles in India across sectors such as roads, airports, water and power. These public ratings shine an important light on the risk profile of infrastructure assets in a developing market. They also offer a unique opportunity for commercial banks, the capital markets and project sponsors to understand both the credit profile of these new infrastructure asset classes, as well as the lending behaviour of India s commercial banks toward these assets. The ratings illuminate the challenges and opportunities to be faced by concessionaires when they eventually recapitalise their projects. A significant number of projects will be coming out of construction over the next few y ears, and will face either interest reset or loan refinancing dates during the critical stage of obtaining government approval for operations. This will also coincide with...

Report Type: Special Report
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 Fitch Research
Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.