Fitch rates Educomp loans A(ind)

Fitch Ratings said it assigned an A(ind) rating to Educomp Solutions Ltd.'s outstanding Rs. 5.24 billion term loans, an F1(ind) rating to its Rs. 150 million short-term debt, A(ind)/F1(ind) ratings to its Rs. 3.27 billion non-fund-based working capital banking lines and A(ind)/F1(ind) ratings to its Rs. 800 million fund-based working capital banking lines.

The agency also said it affirmed the company's national long-term rating at A(ind), along with its Rs. 200 million long-term debt program at A(ind).

The outlook is stable.

The ratings continue to reflect Educomp's firs- mover advantage, innovative business offerings and the market leadership it enjoys in multimedia education, Fitch said.

The ratings also reflect the huge growth potential of India's education sector in terms of volume and value and the increased government spending on the education sector, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.