Fitch rates Enn Tee loans B+(ind)

Fitch Ratings said it assigned Enn Tee International Pvt. Ltd. a national long-term rating of B+(ind), along with a B+(ind) long-term bank loans of Rs. 75 million and B+(ind)/F4(ind) fund-based working capital limits of Rs. 33.6 million.

The outlook is stable.

The ratings are supported by the long-standing experience of its promoters in the domestic textile industry, Fitch said.

The ratings also are supported by the company's comfortable market share in the niche crimp polypropylene market, the agency said, and benefits from its locational advantage.

The ratings also consider Enn Tee's small scale of operations coupled with a track record of revenue de-growth, Fitch added.

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