Fitch ups Mahindra outlook to positive

Fitch Ratings said it has revised the outlook of Mahindra Holidays and Resorts India Ltd. to positive from stable, and affirmed the national long-term rating at A(ind).

At the same time, Fitch said it has also affirmed the rating of Mahindra's fund-based working capital limits of Rs. 600 million at A(ind), and the rating of its non-fund based working capital limits of Rs. 100 million at F1(ind).

The positive outlook reflects Mahindra's ability to increase its revenues in a challenging environment while maintaining healthy profitability margins and a comfortable financial profile, the agency noted.

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