S&P Affirms IRFC Rating On Expected Government Backing

New Delhi: Standard & Poor's on Wednesday affirmed its ratings on the Indian Railway Finance Corporation with a 'stable' outlook as it expects timely government support for meeting debt obligations in case of financial stress. S&P Global Ratings has a 'BBB-' rating on IRFC, the financing arm of the state-owned Indian Railways - same as the rating for the sovereign. "IRFC benefits from an almost certain likelihood of receiving timel...