Fitch Assigns Rating To ICICI Bank''s Loan Securitisation

Fitch Ratings has today assigned an expected National Short-term rating of ''F1+(ind)(SO)'' to the Pass Through Certificates (PTCs) to be issued by the special purpose vehicle (SPV), Loan Securitisation Trust Series 47, for a credit facility (facility) with a tenor of 1 month. The INR2000 millon facility was extended by ICICI Bank Limited (ICICI Bank, the originator or the seller) to Rashtriya Ispat Nigam Limited (RINL, or the obligor). The final rating is contingent upon receipt of final documents conforming to information already received.The expected rating of the PTCs reflects the credit quality of the underlying obligor, the payment structure of the PTCs and the proposed legal structure of the transaction.