Fitch affirms India’s IRB Infrastructure Developers’ rating

Fitch Ratings affirmed India-based IRB Infrastructure Developers Ltd’s Long-Term Issuer Default Rating and the rating on its US-dollar senior secured notes at ‘BB+’. The outlook remains stable, according to an official statement on Thursday.

The rating reflects IRB’s strong financial profile at the consolidated level, with adequate headroom. Fitch expects continued robust traffic performance for IRB’s diverse and strategically located assets, supported by India’s strong GDP growth.

Fitch projects IRB’s financial profile to remain robust, with the group’s consolidated debt-service coverage ratio (DSCR) averaging 1.68x between the financial year ended March 2025 (FY25) and FY32.

Attribution: Fitch Ratings report

Subediting: M. S. Salama