Rural Electrification Corp Ltd (RURL.NS)
22 Sep 2017
* Consensus forecast for June quarter net profit was 14.95 billion rupees
BRIEF-Rural Electrification Corp says article on CAG's statement of co regarding credit appraisal is speculative
* Rural electrification corp ltd clarifies on news item regarding cag stating lack of due diligence by rec, pfc in credit appraisal on loans
* Says launched an issue of U.S.$450 million 3.875% notes due 2027, priced on June 29, 2017.
(The following statement was released by the rating agency) BARCELONA, June 22 (Fitch) Fitch Ratings has assigned Rural Electrification Corporation Limited's (REC) upcoming USD300 million bond an expected long-term 'BBB-(EXP)' rating. The assignment of the final rating on the bond is contingent upon the receipt of final documents conforming to information already received and details regarding the amount, coupon rate and maturity. KEY RATING DRIVERS The bond is rated in line with REC's Long-Term
* Consensus forecast for March quarter net profit was 15.92 billion rupees
* Says has entered into MoUs with Tamil Nadu Generation and Distribution Corp & Tamil Nadu Transmission Corp
BRIEF-Rural Electrification says media report on diversification not based on information provided by co
* Clarifies on news item "REC spurts on buzz of diversification."