Fitch Ratings has affirmed L&T Finance's (NSE:L&TFH, BOM:533519) long-term foreign- and local-currency issuer default ratings at BBB-, with a stable outlook, according to a Wednesday filing to the Indian stock exchanges.
The ratings agency has also affirmed L&T Finance's Shareholder Support Rating at bbb-.
Fitch said the rating reflects its expectation that the non-banking finance company's parent, Larsen & Toubro (NSE:LT, BOM:500510), would provide extraordinary support, if required.
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