Fitch rates SES Technologies loans BBB-(ind)

Fitch Ratings said it assigned a national long-term issuer rating of BBB-(ind) to SES Technologies Ltd., along with a BBB-(ind) rating to the company's long-term bank loans aggregating Rs. 378 million and its fund-based cash credit limits totaling Rs. 680 million. The agency also assigned an F3(ind) rating to the company's non-fund based limits totaling Rs. 800 million.

The outlook is stable.

The ratings are underpinned by the company's reasonably strong position as India's fourth largest IT distributor, although it has faced substantial margin pressure on account of the highly competitive environment and high working capital requirements, which in turn puts pressure on operating cash flows, Fitch said.

The ratings are supported by the company's strong national distribution network, the agency said, and its presence in the less competitive tier II and tier III cities.

© 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.