Fitch rates Elkay Telelinks loans BBB-(ind)

Fitch Ratings said it assigned Elkay Telelinks Ltd. a national long-term rating of BBB-(ind) and BBB-(ind)/F3(ind) ratings to its fund-based limits of Rs. 75 million and BBB-(ind)/F3(ind) ratings to its non-fund based limits of Rs. 80 million.

The outlook is stable.

Ratings reflect the track record of the company's sponsors, of just over two decades, in the cable manufacturing industry, the agency said.

The issuer's total debt-to-operating EBITDAR ratio was 1.25x for fiscal 2009.

Ratings are constrained by the small size of its operations, along with intense competition in the industry, the agency noted.

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