| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Adhunik Industries Ltd. > News item |
Fitch ups Adhunik Industries
Fitch Ratings said it upgraded Adhunik Industries Ltd.'s national long-term rating to BBB-(ind) from BB+(ind) and the national short-term rating to F3(ind) from F4(ind) on the company's bank loans limits, including its outstanding long-term loans of Rs. 51.5 million to BBB-(ind) from BB+(ind), sanctioned fund-based limits of Rs. 450 million to BBB-(ind) from BB+(ind) and sanctioned non-fund-based limits of Rs. 339 million to F3(ind) from F4(ind).
The outlook is stable
The upgrades reflect the improvement in the company's credit metrics with net debt-to-EBITDA down to 2.17x in 2009 from 2.94x in 2008, Fitch said.
The ratings are constrained by volatility in raw material prices due to the absence of captive backward integration, the agency said.
© 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.