Fitch cuts Mahindra Holidays view to stable

Fitch Ratings said it revised the outlook on Mahindra Holidays and Resorts India Ltd.'s national long-term rating to stable from positive and affirmed the rating at A(ind), along with its Rs. 600 million fund-based working capital limits at A(ind) and Rs. 100 million non-fund based working capital limits at F1(ind).

The outlook revision reflects the drop in the company's positive growth momentum of both revenue and profits, Fitch said.

The ratings continue to reflect its brand name, strong business model and established position in the timeshare business, the agency said.

The company's liquidity continues to be strong, Fitch added.

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