Fitch rates Sunil Hitech Engineers loans BB+(ind)

Fitch Ratings said it assigned Sunil Hitech Engineers & Manufacturers Pvt Ltd. a national long-term rating of BB+(ind), along with a BB+(ind) national long-term ratings to its Rs.87.5 million long-term fund-based limits and Rs.14.4 million long-term loans and an F4(ind) national short-term rating to its Rs.132.5 million short-term non fund-based limits.

The outlook is stable.

The ratings reflect the company's strong growth potential, decreasing leverage and increasing profitability, Fitch said. The ratings also factor support from the parent - Sunil Hitech Engineers Ltd., Fitch said. Fitch said it believes that operational and strategic linkages between the two entities remain fairly strong.

The ratings are constrained by a limited operating record, small size of operations and client concentration, the agency said.

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