New Delhi, 26th February 2020: Fitch Ratings has assigned India-based REC Limited’s proposed senior unsecured note rating of ‘BBB-/Stable’ and Moody’s has assigned a rating of ‘Baa3’ on the same.The notes will be issued from REC’s existing USD 7 billion global medium-term note programme (GMTN).The net proceeds will be used for financing power projects in accordance with the approvals granted by theReserve Bank of India and the guidelines for External Commercial Borrowings. The current aggregateamount of bonds issued under the GMTN programme is USD 3 billion.
Ameya Sathaye
Ameya Sathaye is the Founder & Editor-in-Chief of SarkariTel.com and DiplomacyIndia.com with over 25 years of experience in journalism, public policy, diplomacy, governance, infrastructure and international affairs. He has represented India at major international conferences and has served as an international election observer in Uzbekistan.
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