Fitch Assigns Varanasi Aurangabad's Proposed Notes

First-Time 'BBB-(EXP)'; Outlook Stable
Fitch Ratings has assigned a first-time 'BBB-(EXP)' rating to Varanasi Aurangabad's proposed notes, with a Stable outlook. This rating indicates low default risk expectations and adequate capacity for payment of financial commitments. The 'BBB-' rating places the notes at the lower end of investment grade, suggesting good credit quality but some vulnerability to adverse business or economic conditions. This rating action reflects Fitch's assessment of Varanasi Aurangabad's creditworthiness and may enhance the company's ability to access capital markets.
Source: Fitch Ratings