Fitch affirms IBM India

Fitch Ratings said it affirmed IBM India Pvt. Ltd.'s national long-term rating at AAA(ind), along with its IBM India's long-term fund-based working capital facility of Rs. 4 billion, enhanced from Rs. 3 billion at AAA(ind), and fund-based and non-fund based working capital facility of Rs. 6 billion at F1+(ind).

The outlook is stable.

The ratings continue to draw strength from the strong strategic linkage to its parent entity, International Business Machines Corp. Inc., which is rated A+/F1with stable view.

India will likely remain a key outsourcing destination based on low-cost labor and a large talent pool, the agency said.

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