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Standard & Poor's Outlooks On India EXIM, Indian Railway Finance Corp., Power Finance Corp. Revised To Positive

Standard & Poor's Ratings Services on April 19, 2006, revised the outlooks on Export-Import Bank of India (India EXIM), Indian Railway Finance Corp. (IRFC), and Power Finance Corp . Ltd. (PFC) to positive from stable.

At the same time, Standard & Poor's affirmed the 'BB+/B' issuer credit ratings on India EXIM, and the 'BB+' long-term issuer credit ratings on IRFC and PFC.

These revised outlooks reflect the outlook on the sovereign credit ratings on India (BB+/Positive/B), which was revised to positive from stable on April 19, 2006. The positive outlook on India reflects the prospects of greater fiscal consolidation across all levels of the government

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