Fitch rates Adhunik Alloys and Power

Fitch Ratings said it assigned a national long-term issuer rating of BB+(ind) and national short-term rating of F4(ind) to Adhunik Alloys and Power Ltd., along with a BB+(ind) on its outstanding/sanctioned long-term loans aggregating Rs.2600.0 million, national long-term rating of BB+(ind) on its cash credit limits aggregating Rs.350 million and national short-term rating of F4 on its sanctioned non-fund based limits aggregating Rs.250 million.

The outlook is stable.

The ratings reflect the single product nature of its operations, which exposes it to risks of key inputs on one side and volatility of end-product prices on the other, Fitch said.

The rating also considers the company's limited but favorable track record of implementing projects, continuous improvement in its profitability and locational advantage, the agency said.

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