Fitch may cut Strides Arcolab

Fitch Ratings said it placed Strides Arcolab Ltd.'s national long-term rating of BBB-(ind) on Rating Watch negative.

The negative watch reflects Strides lower-than-anticipated cash flows in the last year due to lower-than-expected financial performance and a deferment of expected cash flows, the agency said, and the consequent negative impact on its credit profile.

Fitch also noted that the expected consolidated revenue and profitability for 2009 would be lower than anticipated due to the delay in attaining approvals for certain pharmaceutical products and underperformance in certain core markets.

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