Fitch affirms BILT Graphic

Fitch Ratings said it affirmed BILT Graphic Paper Products Ltd.'s national long-term rating at AA-(ind), along with its Rs. 10 billion non-convertible debenture program at AA-(ind), Rs. 1.5 billion commercial paper/short-term debt program at F1+(ind) and Rs. 6.5 billion fund- and non fund-based working capital limits at AA-(ind)/F1+(ind).

The outlook is stable.

The affirmation reflects the company's strong operational and strategic linkages with its parent, Ballarpur Industries Ltd., Fitch said.

While the legal ties between the two entities are weak, Fitch said it believes that overall linkages are strong as both have similar business profiles and a common management team.

© 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.