Fitch rates Hanumant Vanijya B(ind)

Fitch Ratings said it assigned Hanumant Vanijya Pvt. Ltd. a national long-term rating of B(ind), along with a B(ind) rating to its Rs. 130 million fund-based working capital limits.

The outlook is stable.

The ratings reflect its small scale of operations, risks of volatility of raw material prices and high working capital requirements, which have contributed to its negative cash flows from operations from 2008 through 2010, Fitch said.

The ratings benefit from the company's four-decade long experience in hosiery and related businesses, an infusion of funds by its promoters to maintain its liquidity and an absence of any major long-term liabilities, the agency said.

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