Fitch gives Bilcare loan A(ind)

Fitch Ratings said it affirmed the rating on Bilcare Ltd.'s Rs. 3.5 billion non-fund based working capital limits at F1(ind) and simultaneously removed it from rating watch negative.

The agency said it has also assigned a national long-term rating of A(ind) to Bilcare and its Rs. 4.5 billion long-term loans. The outlook is stable.

Fitch noted that the resolution of the watch follows clarity on the financing, potential earnings and cash flows from Ineos Films, which was acquired by Bilcare in August.

The ratings also factor in the company's combined financial profile and business plans, the agency stated.

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