Saturday, July 11th, 2020

REC’s Senior Unsecured Note rated ‘Baa3’ and ‘BBB-‘ by Moody’s & Fitch

INVC NEWS       

New Delhi,

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.




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