Fitch affirms Bhartiya

Fitch Ratings said it affirmed Bhartiya International Ltd.'s national long-term rating of A-(ind), Rs. 411.5 million of long-term bank loans A-(ind) rating, Rs. 848.5 million of fund-based working capital lines A-(ind)/F2+(ind) rating, Rs. 343.5 million of non-fund based working capital lines A-(ind)/F2+(ind) rating and Rs. 115.4 million stand-by letters of credit issued in favor of subsidiaries A-(ind)/ F2+(ind) rating.

The ratings reflect the company's integrated operations, comfortable liquidity, moderate debt and sound operational track record, Fitch said.

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