Fitch rates Rungta Mines loans AA(ind)

Fitch Ratings said it assigned to Rungta Mines Ltd. a national long-term rating of AA(ind), along with an AA(ind) on its Rs. 489.5 million outstanding long-term debt, F1+(ind) on its Rs. 4.69 billion fund-based working capital limit and F1+(ind) on its Rs.1 billion nonfund-based facilities.

The outlook is stable.

The ratings reflect the company's position as a leading Indian private sector player in the iron ore market, especially in the eastern part of India, its demonstrated track record and strong financial profile, Fitch 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.