Fitch rates BalKrishna Synthetics BBB-(ind)

Fitch Ratings said it assigned BalKrishna Synthetics Ltd. a national long-term rating of BBB-(ind).

The outlook is stable.

The agency also assigned a BBB-(ind) rating to its Rs.104.8 million term loans, BBB-(ind)/F3(ind) ratings on its Rs. 10 million cash credit limit and F3(ind) rating on its Rs. 10 million non-fund based limits.

The ratings factor in its strong visibility of revenues, comfortable credit metrics and strong operational links with its customer, Siyaram Silk Mills Ltd., Fitch said.

The ratings are constrained by the company's small scale of operations and the cyclical nature of the domestic textile industry, the agency said.

© 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.