Fitch rates IOT A-(ind)

Fitch Ratings said it assigned IOT Anwesha Engineering & Construction Ltd. a national long-term rating of A-(ind), along with an A-(ind) rating on its Rs. 41.8 million long-term loans, A-(ind)/F1(ind) ratings on its Rs. 350 million cash credit facility and F1(ind) rating on its Rs. 350 million non-fund based limits.

The ratings factor in the company's order book position, robust sales growth and comfortable credit metrics, Fitch said.

The ratings also benefit from the moderate operational and strategic linkages with its parent, IOT IES, one of the country's leading players in engineering, procurement and construction, the agency said.

The ratings are constrained by its relatively small size of operations, high customer concentration and likely margin pressures on account of delays in projects completion, Fitch 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.