Fitch rates Indotech Transformers A(ind)

Fitch Ratings said it assigned Indotech Transformers Ltd. a national long-term rating of A(ind), along with its long-term loans of Rs. 200 million at A(ind); fund-based cash credit limits of Rs. 95 million at A(ind); non-fund based limits of Rs. 1.12 billion at A(ind)/F1(ind.

The outlook is stable.

The ratings reflect the company's stable operational track record, steady improvement in profitability, good relationship with its major customers and strong financial leverage stemming from its negative net debt position, Fitch said.

Concerns include the company's excessive reliance on SEBs, contributing about 75% of revenues, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.