Fitch rates Fullerton India F1+(ind)

Fitch Ratings said it assigned a F1+(ind) national short-term rating to Fullerton India Credit Co. (formerly known as First India Credit Corp). The agency also affirmed its F1+(ind) national short-term debt program rating for an enhanced amount Rs.7,500 million, from Rs.2,500 million previously.

The ratings will continue to be driven by expectations of support from Fullterton's ultimate parent Temasek Holdings, given the implementation risk associated with the large-scale rollout in the sub-prime market planned by the company over the next two years, the agency said.

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