Fitch affirms Hindustan Unilever

Fitch Ratings said it affirmed Hindustan Unilever Ltd.'s long-term issuer rating at AAA(ind).

The outlook is stable.

The affirmation considers the company's strong financial profile and low business risk, Fitch said.

The rating reflects the company's leading market share, favorable demographics and higher disposable incomes, the agency said.

Risks include rising crude and palm oil prices, higher advertising spends, changes in fiscal benefits and track record of high dividend payouts, Fitch noted.

Ratings could be hurt by a debt-to-EBITDA ratio of more than 1 times, the agency said.

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