ReNew Power Ventures has launched a sale of bonds to overseas investors to raise $450 million. This will be a uniquely structured deal, where dollar-denominated bonds will be issued by an offshore entity unrelated to the company that will in turn invest in masala bonds issued by ReNew Power of the same value.
Tag: Fitch Ratings
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Fitch upgrades India’s rating outlook
Global ratings agency Fitch Ratings upgraded the outlook on India's sovereign rating to "stable" from "negative" noting the government's steps to reduce fiscal deficit. The rating agency said the Indian authorities have been successful in containing the upward pressure on the Union Budget deficit in the face of a weaker-than-expected economy
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Traffic underperformance is key risk
As NHAI attracts yet another round of premium bids, a report says that toll road projects in first-year traffic was below projections by up to 45 per cent.