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Fitch rates Motherson Advanced loans BBB-(ind)
Fitch Ratings said it assigned Motherson Advanced Tooling Solutions Ltd. a national long-term rating of BBB-(ind), along with a BBB-(ind) rating on its existing long-term bank loans of Rs. 300 million, BBB-(ind)/F3(ind) ratings to its fund-based working capital bank limits of Rs. 90 million and BBB-(ind)/F3(ind) ratings to its non fund-based working capital bank limits of Rs. 20 million.
The outlook is stable.
The ratings reflect the company's established position in the domestic cutting tools business, the favorable industry scenario and limited competition from other players, Fitch said.
Constraints include the small size of operations, the agency said, and the company's weak operating profitability in the current financial year.
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