Fitch rates Indo American Electricals B+(ind)

Fitch Ratings said it assigned Indo American Electricals Ltd. a national long-term rating of Fitch B+(ind).

The outlook is stable.

According to Fitch, the ratings reflect Indo American Electricals' short track record of operations since December 2009, post its deregistration from the Board for Industrial and Financial Reconstruction in July 2010.

The ratings also reflect the company's weak EBITDA margin of 5.6% and high net financial leverage of 12.8x in FY11, the agency added.

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