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Fitch rates Enpro Oil loans BBB-(ind)
Fitch Ratings said it assigned Enpro Oil Pvt Ltd. a national long-term rating of BBB-(ind), along with a BBB-(ind) rating to its long-term loans of Rs. 1.35 billion and BBB-(ind)/F3(ind) ratings to its fund-based working capital limits of Rs. 500 million.
The outlook is stable.
The ratings reflect the strong legal and moderate operational linkages with the company's parent, Jubilant Enpro Pvt. Ltd., Fitch said. The ratings are further underpinned by its consistent infusion of equity, the agency said.
Concerns in its standalone credit profile include consistent EBITDA losses and high financial leverage, which is expected to remain high in the short to medium-term given capital expenditure plans, the agency said.
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