Fitch rates Orissa State Civil Supplies BBB(ind)

Fitch Ratings said it assigned a national long-term rating of BBB(ind) to Orissa State Civil Supplies Corp. Ltd.'s fund-based working capital limits of Rs.9 billion.

The outlook is stable.

The company is fully-owned by the government of Orissa and is mandated to deliver a balanced budget, Fitch said.

The rating reflects the strategic role Orissa State Civil Supplies plays in the public distribution system in Orissa, the agency said. As with all states in India, public distribution is an important element of public policy targeted at a vast segment of the country's economically weak population, Fitch said, and the company plays a vital role in helping the state government discharge this critical function.

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