Fitch rates Indic EMS Electronics

Fitch Ratings said it assigned Indic EMS Electronics Pvt Ltd. a national long-term rating of B(ind), along with a national long-term rating of B(ind) to the company's Rs. 23.5 million term loans and national ratings of B(ind)/F4(ind) ratings to its Rs. 30 million fund-based working capital limits and Rs. 10 million non fund-based working capital facilities.

The outlook is stable.

The ratings reflect the company's limited track record in the electronics assembly business, Fitch said.

The ratings are constrained by its lack of any significant operational track record since it only began operations in 2007, the agency said.

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