Fitch affirms ABG Shipyard

Fitch Ratings said it affirmed ABG Shipyard Ltd.'s national long-term rating and its non-convertible debentures at Fitch A(ind).

The agency said the affirmation reflects ABG Shipyard's dominant position and proven track record of 26 years in the Indian shipbuilding industry, its ability to manufacture a diverse range of vessels, its enhanced capacity following the commissioning of its shipyard at Dahej in 2010 and its large order book.

The ratings are, however, constrained by the working capital intensity of shipbuilding operations and the cyclical nature of the global shipping industry, Fitch said.

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