Fitch rates Gangakhed Sugars loans B+(ind)

Fitch Ratings said it assigned a national long-term rating of B+(ind) to Gangakhed Sugar and Energy Pvt Ltd. and a B+(ind) to its term loans of Rs. 3.043 billion.

The outlook is stable.

Ratings reflect the project status with operations expected to begin in October 2009, favorable economics driven by availability of cane from surrounding areas and a favorable demand outlook for sugar in the short to medium term, the agency said.

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