Fitch rates Intergarden India

Fitch Ratings said it assigned a national long-term rating of BBB(ind) to Intergarden India Pvt Ltd., along with BBB(ind)/F3(ind) ratings to its fund-based sanctioned working capital limit of Rs. 463.0 million, BBB(ind)/F3(ind) to its non-fund-based sanctioned working capital limit of Rs. 50 million and BBB(ind) to its outstanding long-term loan of Rs. 75.9 million.

The outlook is stable.

The ratings are driven by Intergarden's close linkages with its ultimate holding company, Global Green Co. Ltd., which is rated BBB(ind)/F3(ind) with stable view.

Intergarden's operations are well integrated with that of its parent, the agency said, and its working capital borrowings have a corporate guarantee from Global Green.

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