Fitch affirms Enpro Oil

Fitch Ratings said it affirmed Enpro Oil Pvt. Ltd.'s national long-term rating at BBB-(ind), along with its Rs. 400 million fund-based working capital limits, reduced from Rs. 500 million, at BBB-(ind)/F3(ind) and Rs. 979 million long-term bank loan, reduced from Rs. 1.35 billion, at BBB-(ind).

The outlook is stable.

The ratings continue to reflect the company's strong legal and moderate operational linkages with its parent, Jubilant Enpro Pvt. Ltd., Fitch said, and potential support from the Jubilant Bhartia group.

The ratings are underpinned by the parent's consistent infusion of equity into Enpro, the agency said.

On a standalone basis, Enpro has a weak credit profile, Fitch added.

© 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.