Fitch gives Govinda, loan B(ind)

Fitch Ratings said it assigned Govinda Impex Ltd. a national-long-term rating of B(ind).

The outlook is stable.

Fitch said it has also assigned national long-term ratings of B(ind) to the company's outstanding long-term bank loans aggregating Rs. 45.6 million and to its cash credit aggregating Rs. 180 million as well as a national short-term rating of F4(ind) to its non-fund based limits of Rs. 100 million.

According to the agency, the ratings reflect Govinda's relatively small size of operations in the domestic steel sector, which, coupled with its exposure to raw material volatility and the commodity-based nature of its product profile, exposes it to relatively high business risks.

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