Fitch assigns Kamladityya Construction loan F3(ind)

Fitch Ratings said it assigned Kamladityya Construction Private Ltd.'s Rs. 500 million non-fund based facilities a rating of F3(ind).

The rating reflects the company's low leverage, negative cash conversion cycle, declining EBITDA margins since FY08, delays in completion of projects and it being a partnership concern till March 2010, the agency stated.

The company maintained a low net leverage of around 0.5x to 1.2x over FY08-FY10 and reported a strong order book, Fitch noted.

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