Srei International Finance

Fitch Ratings India has assigned an `Ind AA-' rating to the three-year, Rs 10-crore secured non- convertible debenture issue of Srei International Finance Ltd.

The rating, according to a Fitch press note, indicates high credit quality, strong protection factors, and modest risk that may vary with changing economic conditions. The rating takes into account Srei's presence in the heavy equipment-financing sector, the support it has received from foreign lending institutions, its capital structure and low dependence on volatile retail funds.

The company, which finances heavy earth-moving and construction equipment, has extended its reach to identify projects in core areas such as power, roads and ports. For such projects, it has sought to provide equipment financing and fund syndication.