Fitch: Bharuch Enviro BBB-(ind), loans BBB-(ind)

Fitch Ratings said it assigned Bharuch Enviro Infrastructure Pvt. Ltd. a national long-term rating of BBB-(ind), along with a national long-term rating of BBB-(ind) on its Rs. 38.3 million loans and an F3(ind) rating on its Rs. 50 million bank-guaranteed facility.

The ratings reflect an expectation of stable revenues and high capacity utilization given available waste for both its incinerator and landfill operations, Fitch said.

The ratings also consider a stronger order book for its incineration operations compared to 2010, the agency said.

The ratings are constrained by the company's Rs. 291.9 million expansion plan, which is to be funded by a loan, capital contribution, internal accruals and government subsidy of Rs. 141.4 million, the agency said.

The ratings also factor in an expectation that the plant will be completed on schedule in September 2011 and the company will de-leverage from 2013 onwards, Fitch added.

© 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.