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Fitch affirms Hindustan Unilever
Fitch Ratings said it affirmed Hindustan Unilever Ltd.'s national long-term rating at AAA(ind).
The outlook is stable.
The affirmation is underpinned by the company's low business risk and strong financial risk profile, according to the agency.
Ratings also consider the company's consistently zero net debt status, positive free cash flows and status as the largest Indian fast moving consumer goods company, the agency said.
As of the end of fiscal 2009, consolidated gross debt-to-EBITDA ratio was 0.1x and net debt-to-EBITDA ratio was -0.6x.
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