Fitch rates Gontermann-Peipers A-(ind)

Fitch Ratings said it assigned an A-(ind) national long-term issuer rating to Gontermann-Peipers Ltd., along with an A-(ind) rating to the company's outstanding long-term bank loans of Rs.35.4 million and fund-based working capital facilities totaling Rs.489.6 million. Fitch also assigned a rating of F1 (ind) to its non-fund based working capital facilities of Rs.334 million.

The outlook is stable.

The ratings reflect the company's dominant market share and its position as one of India's largest steel roll manufacturer with a presence in both cast and forged rolls, Fitch said.

The ratings are constrained by the volatility in margins faced by the company, the agency said, and raw material price increases given the oversupply in the market.

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