Fitch assigns ‘A-‘ rating to Ansal Properties

NEW DELHI: Credit rating agency Fitch on Monday assigned ‘A-‘ rating, indicating investment grade, to Ansal Properties & Infrastructure Ltd (API) for its long-term debt programme of Rs. 100 crore.

Fitch said in a release that the ratings assigned denote that the company’s financial leverage has improved substantially over the last two years.

The rating takes into account the company’s experience in the real estate market in Northern India. While API plans leasing commercial and retail properties, a majority of its current revenue is from the sales of residential properties, it said.