Fitch ups India Infoline

Fitch Ratings said it upgraded India Infoline Ltd.'s national short-term rating to F1+(ind) from F1(ind), along with its Rs. 2 billion short-term debt program to F1+(ind) from F1(ind).

The upgrade reflects the company's ability to withstand the cyclical downturn of the capital markets during 2009 through 2010, Fitch said.

The rating also takes into account its leading position in retail equity broking and its strong capitalization, the agency said.

But, Fitch said it remains cautious about the volatile nature of its primary business of equity broking.

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