Fitch rates Mahesh Agro loans B-(ind)

Fitch Ratings said it assigned Mahesh Agro Private Ltd. a national long-term rating of B-(ind), along with B-(ind)/F4(ind) ratings on its fund-based working capital limits of Rs.450 million and F4(ind) to its non fund-based working capital limits of Rs.300 million.

The outlook is stable.

The ratings reflect the company's diversified presence in unrelated sectors exposing it to volatility in revenues and profitability, Fitch said.

The ratings are supported by its flexibility to adapt to market conditions by changing the mix of commodities traded, the experience of the promoters in this trade and the low exit barriers involved in the nature of its business, the agency said.

Any further deterioration in profitability margins, leverage levels or coverage ratios, or adverse regulations impacting the company's trade could have a negative impact on the ratings, Fitch said.

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