Fitch gives Kandui BB-(ind)

Fitch Ratings said it assigned Kandui Industries Pvt. Ltd. a national long-term rating of Fitch BB-(ind).

The outlook is stable.

According to the agency, the ratings are constrained by the deterioration in the company's net financial leverage to 3.8x in FY11 from 1.6x in FY10 and EBITDA interest coverage to 3.7x from 4.01x.

The ratings, however, benefit from over four-decade-long experience of Kandui's sponsors in the domestic plastics industry, especially in woven sacks manufacturing.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.