Fitch affirms KCT Trading

Fitch Ratings said it affirmed KCT Trading Pvt Ltd.'s national long-term rating at BBB(ind), along with its Rs. 26.5 million long-term loans at BBB(ind) and its Rs. 470 million sanctioned fund-based limits at F2(ind). Fitch also said it assigned to the company's Rs. 25 million sanctioned non-fund based limits a national short-term rating of F2(ind).

The outlook is stable.

The affirmations reflect an improvement in the company's 2010 provisional financial figures with EBITDA margins expected at 2.29% and net debt-to-operating EBITDAR and interest cover expected to improve to 4.9x and 1.72x, respectively, Fitch said.

The ratings benefit from the company's long track record in paper trading as a former division of Karam Chand Thapar & Bros. Ltd., a group company of KCT Trading, the agency said.

© 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.