Fitch affirms Adhunik

Fitch Ratings said it affirmed Adhunik Cement Ltd.'s national long-term rating and its term loans aggregating 4.06 billion rupees at BB-(ind).

The outlook is stable.

Also, the agency said it has assigned a long-term rating of BB-(ind) to Adhunik's fund-based limits aggregating 865 million rupees and an F4(ind) short-term rating to its non-fund based-limits aggregating 100 million rupees.

The affirmations reflect the completion of ACL's expansion plan, despite a seven month delay. There has, however, been no cost overrun. Further, there has been a delay in the stabilization of the plant due to problems with its power plant (expected to be operational by August 2010).

© 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.