New Delhi, October 10, 2019 -  Sterlite Power, a leading global developer of power transmission assets, has received funds from newly issued infrastructure debentures rated by Fitch Ratings as AAA (triple A), the bestone on the rating scale, for the Arcoverde Project.

This is an important milestone for Sterlite as our first infrastructure debentures in the Brazilian capital markets. “We are pleased with this AAA rating, which attests the financial quality of our projects.” Says Rui Chammas, CEO of Sterlite Power in Brazil.

The rating of Arcoverde Project Debentures issue reflects the operational stage of the project, as well as the legal and regulatory framework of the Brazilian energy sector, associated with the nature of the power transmission segment. The R$ 52 million single-issue transaction has a 23-year term.

With this issuance, the project's long-term financing structure will be composed of both infrastructure debentures and BNB's long-term financing. This way, the project guaranteesoptimizedfinancing conditions.

The Arcoverde project was commissioned in May 2019, 28 months ahead of ANEEL´s schedule, expanding power transmission services to the Pernambuco region with the construction of 129 km of power transmission lines, the installation of a new substation (Arcoverde II) and the expansion of two other current substations (Garanhuns II and Caetés II).