Fitch affirms Jubilant Motors

Fitch Ratings said it affirmed Jubilant Motors Pvt. Ltd.'s national long-term rating at BBB-(ind), along with its Rs. 115.6 million term loan outstanding as of March 31 at BBB-(ind), Rs. 270 million fund-based working capital limits at BBB-(ind)/F3(ind) and Rs. 350 million non-fund based working capital limits at BBB-(ind)/F3(ind).

The ratings continue to factor in the potential support from Jubilant Bhartia Group and the strong legal linkages the company has with its parent, Jubilant Enpro Pvt. Ltd., Fitch said.

To support the operations of the company, Jubilant Enpro injected a significant amount of equity into Juilant Motors and also extends inter-corporate deposits to the company, the agency said.

On a standalone basis, Jubilant Motors has a weak credit profile, Fitch added.

© 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.