Fitch rates Kiri Dyes loans BBB(ind)

Fitch Ratings said it assigned Kiri Dyes and Chemicals Ltd. a national long-term rating of BBB(ind), along with a rating of BBB(ind) to its fund-based limits of Rs. 1.18 billion and to its Rs. 625 million term loans. Fitch also assigned a rating of F3(ind) to its Rs. 365 million non-fund based limits.

The ratings reflect its debt-funded acquisition of the operating assets of DyStar Textilfarben GmBH and subsidiaries through its wholly owned special purpose vehicle for €50 million, Fitch said.

The acquisition has given the company access to Dystar's global marketing network, established brand name and technology, the agency said.

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