Fitch: Infomedia 18 on evolving watch

Fitch Ratings said it placed Infomedia 18's national long-term rating of BBB-(ind) on Rating Watch evolving, along with the BBB-(ind) rating on its Rs. 306 million long-term loans, BBB-(ind) on its Rs. 452 million fund-based working capital limits and F3(ind) on its Rs. 250 million commercial paper/short-term debt program.

The actions follow news that the company plans to restructure into two entities - Network18, the grandparent company of Infomedia18, and IBN18, associate company of TV18, which would have a clear demarcation of the group's assets between them, Fitch said.

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