Fitch rates Officedge India BB(ind)

Fitch Ratings said it assigned Officedge India Pvt. Ltd. a national long-term rating of BB(ind), along with its Rs. 40 million fund-based working capital limits of BB(ind) and Rs. 10 million non fund-based working capital limits of F4(ind).

The outlook is stable.

The ratings reflect the company's standing as a supply chain partner for specialty chemicals serving Hindustan Unilever Ltd.'s personal care products division, Fitch said.

The ratings benefit from Officedge's established relationship with Hindustan Unilever for more than four years, the agency added.

The ratings are constrained by the high customer concentration risks arising from Hindustan Unilever being its only customer and the non-existence of any formal agreement between companies, 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.