Fitch may cut Infomedia India

Fitch Ratings said it placed on Rating Watch negative Infomedia India Ltd.'s A-(ind) national long-term rating, the A-(ind) rating on its long-term bank facilities totaling Rs. 758 million and the F1(ind) rating on its Rs. 250 million short-term debt program.

The negative watch is based on an ongoing evaluation of the revenue and margin pressures on Infomedia's core directory business, future business and capital expenditure plans in light of its operational restructuring, Fitch said, as well as the ongoing assessment of Infomedia's linkages with its key shareholder, Television Eighteen India Ltd., rated A(ind)/F1(ind) with stable view.

The agency said it anticipated the watch will be resolved in the fourth quarter of 2009.

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