Fitch rates Kutty Flush Doors B-(ind)

Fitch Ratings said it has assigned a national long-term rating of B-(ind) with a stable outlook and a national short-term rating of F4(ind) to Kutty Flush Doors & Furniture Co Pvt Ltd.

Fitch said it has also assigned ratings to Kutty's bank loans, as follows:

• Rs. 26 million of term loans at B-(ind);

• Cash credit limit of Rs. 40 million at B-(ind);

• Cheque bill discounting limit of Rs. 1.5 million at F4(ind);

• Bank guarantee of Rs. 2.5 million at F4(ind); and

• Letter of credit of Rs. 30 million at F4(ind).

According to the agency, Kutty's ratings are underpinned by its long-established track record in the doors' business, covering a wide product range across residential, commercial and industrial segments, its strong relationship with customers and its focus on product development.

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