India Ratings & Research (Ind-Ra) has affirmed IL&FS Transportation Networks (ITNL) long-term issuer rating at 'IND A'. The outlook is stable.

The ratings reflect ITNL's strong strategic and operational linkages with its parent, Infrastructure Leasing & Financial Services (IL&FS, 'AAA'/Stable). ITNL is one of the largest investments of IL&FS and also shares the IL&FS brand name.

The commitment of IL&FS is reflected in IL&FS group companies subscribing to ITNL's preference shares (Rs 4 billion out of Rs 7.5 billion) as well as IL&FS fully subscribing to ITNL's Ra 5.25 billion rights issue completed in May 2014. ITNL continues to leverage the parent’s strong banking relations. Senior management of IL&FS is on the board of ITNL and IL&FS monitors ITNL's overall operations.

Shares of the company gained Rs 5.05, or 2.11%, to settle at Rs 244.40. The total volume of shares traded was 217,667 at the BSE (Friday).