Fitch rates Educomp debt A(ind)

Fitch Ratings said it assigned an expected national long-term rating of A(ind)(SO) to Educomp Infrastructure Private Ltd.'s Rs. 1 billion non-convertible debenture program.

The rating is based solely on the unconditional and irrevocable corporate guarantee of Educomp Solutions Ltd., (rated A(ind) with stable view) covering full and timely payment of principal and all accrued interest. Final ratings are contingent upon receipt of final documents.

The rating is subject to the company obtaining an unconditional and irrevocable guarantee from Educomp Solutions for payment of interest and repayment of principal amount on the debentures, execution of the subscription agreement and trust deed with Axis Bank, who will act as trustees and implementation of the specified repayment mechanism, Fitch said.

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