Fitch rates Shriram CP F1(ind)

Fitch Ratings said it affirmed Shriram EPC Ltd.'s national long-term rating at A-(ind) and its Rs. 1.798 billion long-term fund-based limits and its Rs. 910 million long-term loans at A-(ind) and its Rs. 5.47 billion short-term non-fund based limits and Rs. 500 million short-term loans at F1(ind).

The agency assigned a national short-term rating of F1(ind) to the company's commercial paper program of Rs. 1 billion.

The outlook is stable.

Ratings reflect the company's strong growth and comfortable credit metrics, the agency said.

Concerns include project execution risks, given the high concentration of key projects, and risks of higher leverage at the subsidiary/associate level, the agency noted.

© 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.